AIA's New Business Value Likely to Have Solid Momentum in 4Q
Dow Jones10-30
0659 GMT - AIA's new business value is likely to still have solid momentum in 4Q, despite a decline in 3Q, says DBS Group Research in a note. The fall in 3Q was due to a high base effect in Hong Kong and China and a moderation in growth in the Hong Kong segment's mainland Chinese visitors channel, as well as headwinds from policy updates to China's bancassurance channel, says DBS. However, growth resumed strongly in September as the base effect normalized, the DBS analysts say. DBS maintains its buy rating and is reviewing its 106 Hong Kong dollar target price. Shares rise 4.9% to HK$75.15.
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