Market Chatter: Prudential plc, HSBC, StanChart Shares Fall in London as China Reportedly Taxes Hong Kong Insurance Policies

09:14 AM EDT, 08/05/2026 (MT Newswires) -- London-listed shares of Prudential plc (PRU.L), HSBC (HSBA.L), and Standard Chartered (STAN.L) declined as of Wednesday early afternoon after a report said that Chinese mainland tax authorities started taxing returns from offshore insurance policies, including those bought in Hong Kong. Chinese media outlet Caixin Global, citing unnamed tax lawyers and insurance insiders, reported that early enforcement cases in Beijing and Hangzhou show authorities imposing a 20% personal income tax on dividend payouts and interest earned from these Hong Kong policies. At around 2 pm UK time, Prudential and HSBC were down 5%, while StanChart shed 2%. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)