Prudential shares fall for second day on Manulife read across

LONDON, Feb 13 (Reuters) - Prudential shares fall for a second day, down 1.3% after Thursday's 6.8% decline, which was the biggest one day drop since March 2023. Set for biggest two-day decline since April 2025's tariff shock

Jefferies say fall is the product of read-across from Manulife MFC.TO results as the Canadian insurer's Hong Kong business suffered from changes to the financial hub's retirement savings Mandatory Provident Fund scheme

Hong Kong is Prudential's flagship market. However, Jefferies argue the MPF changes are not relevant in Prudential's case.

"Based on the last four quarters of sales, Prudential's Hong Kong broker exposure represents just c.11% of premiums," this would make "the group impact of quarterly volatility immaterial, and invisible in half-yearly accounts," they said in a late Thursday note.