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As revealed in the report of Standard Chartered, the third quarterly results of PING AN (02318.HK)  +1.750 (+2.871%)    Short selling $105.04M; Ratio 9.881%   beat market estimates due to vigorous growth in banking industry, improvement in investment returns and impressive financial and insurance business. The premium revenue recorded a year-on-year increase of 25.8%. However, the NPL increased by nearly 30%, together with almost 60% increase in YTD. Particularly, the retail entrepreneur loans and accounts receivables from credit cards were deteriorated significantly.
Standard Chartered lifted the earnings forecast of Ping An in 2014 to 2016 by 0.9%-5.7%. The target price was increased from $87 to $90.5, with Outperform rating

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