Ping An up 4 pct after lifting stake in Shenzhen bank

HONG KONG, Sept 2 (Reuters) - Hong Kong-listed shares of Ping An Insurance (Group) Co od China Ltd (2318.HK), the world's second-biggest insurer, rose 4 percent on Thursday after the company announced details of its acquisition of a controlling stake Shenzhen Development Bank Ltd (000001.SZ).

Ping An (601318.SS) said late on Wednesday that it had agreed to buy a further 32 percent of Shenzhen Development Bank for 29.1 billion yuan ($4.3 billion). [ID:nTOE681009]

The stock rose to HK$66.90 after trading resumed on Thursday following suspension in late June.

Ping An's Shanghai-listed shares rose 5.3 percent in early trade. (Reporting by Alison Leung; Editing by Chris Lewis)