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2024-04-25 11:15:05 Morgan Stanley commented in a research report that market worries about the Mainland Chinese Visitor (MCV) insurance business are gradually dissipating, and valuations of several insurance stocks are becoming attractive, in anticipation of better 1Q results from them. AIA (01299.HK), PING AN (02318.HK), CPIC (02601.HK) and CHINA LIFE (02628.HK) are expected to rebound. According to Morgan Stanley, AIA has been the subject of much debate in the past month, not only over its buyback programme, but also due to weak market sentiment in China, a continued decline in gross profit margins, and concerns over the growth of its key financial metrics, which have caused its shares to crash over 20% since last month. Nevertheless, the broker expected that AIA's solid fundamentals and attractive valuation will lead to a gradual resumption of growth in its key financial indicators this year, which may lead to a return of capital flows and a rebound in long-term investor interest. AIA will announce its 1Q results before market open on 29 April. The broker forecasted that AIA's 1Q value of new business growth will remain strong at 20% In the life insurance sector, Morgan Stanley noted that share prices of life insurers have been adversely affected by interest rates since 2H23, but companies have taken different measures to cope with this, and the broker expected that Chinese life insurers will gain attention from the market. ~ AAStocks Financial News Web Site: www.aastocks.com | |