HSBC Holdings Plc is in talks to sell its 15.57 percent stake in Ping An, China's second largest insurer, in a deal worth around 70 billion Hong Kong dollars (9.03 billion U.S. dollars).

Discussions may or may not lead to the sale of its Ping An stake, the U.K. bank said in a statement on Monday.

Shares of Ping An on Monday edged down 1.67 percent to 58.6 HK dollars in Hong Kong and down 1.62 percent to 36.49 yuan (5.79 U.S. dollars) in Shanghai.

Pan Hongwen, an analyst with CITIC Securities, said the sale will impact Ping An shares in Hong Kong, but investors need not panic as the move is not due to a lack of confidence but HSBC's strategic restructuring.

HSBC is the single biggest shareholder in Ping An and it has been selling its non-core assets as part of restructuring efforts. Endi

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