China Life Insurance trading error confirmed

A sudden plunge in the share price of China Life Insurance on the Shanghai bourse Wednesday, in which the stock dropped by almost 9 percent and shortly rectified, was confirmed by the regulatory body as a trading error, the Shanghai Stock Exchange (SSE) said on its Weibo.

SSE said an operator with "an institution" made a mistake in trading. SSE did not specify the institution.

The mistake caused the market capitalization of China Life Insurance to drop by 36.5 billion yuan ($5.84 billion) briefly.