GO
| HSI1 | 24,040.34 | +68.05 | 98.10B |
| HSCEI1 | 8,051.67 | +21.13 | 24.86B |
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2026-10-05 10:52:01 BofA Securities issued a report on AIA (01299.HK), which plummeted 5% on the first day of China's Golden Week holiday, vs a 3% decline in the HSI over the same period. The broker noted that similar high volatility was also seen on the first day of Golden Week over the past six years, and the first day's performance does not indicate the trend for the whole of October. The plunge was attributable to thin trading and the absence of southbound fund inflows, rather than fundamental issues. It reiterated the Buy rating with a TP of HKD95. Southbound funds have become the biggest supporter of AIA over the past two months, with holdings as a percentage of total share capital rising from 2.78% at the end of July to 3.93% at the end of September, marking a record high. After southbound trading resumes in October, the broker expected fund inflows to continue and support the share price. The broker estimated the company's Value of New Business (VNB) to reach USD1.5 billion in 3Q25. Given the high base and slowing sales momentum observed among Chinese-funded insurers, growth in Hong Kong and Mainland China in 3Q may face greater challenges. ~ AASTOCKS Financial News Website: www.aastocks.com | |