China's Ping An Insurance opens trading at 50 yuan per share

Ping An Insurance, China's second-largest life insurer, listed its shares on the Shanghai Stock Exchange on March 1 with an opening price of 50 yuan ( 6.25 U.S. dollars) per share.

The listing came after Chinese shares bounced back from the heaviest losses in 10 years on Feb. 28, as the major index gained 3.94 percent to close at 2,881.07 points on Wednesday.

Chinese shares opened lower on Thursday. The benchmark Shanghai Composite Index opened at 2,877.20 points, down by 3.87 points, or 0.13 percent.