BUZZ-China Life, New China Life's HK shares drop most in nearly 4 months on weak Q3

** Hong Kong shares of China Life Insurance fall 4.1% to HK$13.42, heading for their biggest daily pct drop since July 7, after the Chinese insurer posted a 54.5% drop in Q3 net profit

** Stock is the second-biggest percentage decliner on the Hang Seng Finance Index and the benchmark index

** Nomura keeps "buy" rating but trims TP to HK$20.95 from HK$22.48, saying both net profit and new business value weak

** China Life's Shanghai shares fall 6.8%

** Nomura also cuts TP on New China Life Insurance Co Ltd

to HK$39.33 from HK$41.77, saying earnings missed on additional reserves

** Hong Kong shares of New China Life fall 5.5% to HK$22.45 after the Fosun International-backed insurer posted a 51.2% drop in Q3 net profit

** Stock on track for its worst day since July 8, down for a fifth straight session

** Stock hits lowest level since Oct. 5, the seventh-biggest pct decliner on the Hang Seng Composite Index

** New China Life's Shanghai shares drop 6.7%

** The Hang Seng Composite Index tracking financial stocks

falls 1.1%, the Hang Seng Finance Index drops 1.3%

** The Hang Seng Composite Index slips 0.5% and the benchmark index down 0.7%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))