A vote of no-confidence in the Chinese stock market

According to a Bloomberg report, New China Life Insurance Company, China's
fourth-largest insurer has scrapped plans for a Shanghai share sale, and may raise as much as $800 million in an initial
public offering overseas. Details, and US stock implications:

Why was the Shanghai A-share listing scrapped?

• The President of New China Life Insurance, Guan Guoliang, was disappointed by the Shanghai Composite Index's 33%
  drop in the past year.

Thoughts: The move to list overseas is not a good sign for Chinese domestic markets. Though the government has announced plans to clean up the domestic markets, little has changed. According to Business Week, the Shanghai and Shenzhen indexes
each gained 3.6% on Friday on talk that the government would shortly launch some major pro-market measures. The markets fell back today as those rumors proved unfounded.

This is also bad news for online financial information provider, China Finance Online (ticker: JRJC). The company announced in February that a weak Chinese stock market would have a negative impact on its business. This vote of no-confidence in the Chinese markets does not show any hope for a market turnaround, or bode well for JRJC's prospects. More here.

China Life Insurance (ticker: LFC), the only China insurer trading in the United States, has seen some success. Here is its latest stock market performance: