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<Research>JPM: Market Over-discounting MCV Risk for AIA; Accumulate into Weakness Recommended
Recommend 11 Positive 12 Negative 12 |
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AIA (01299.HK)'s share price posted a considerable pullback yesterday (4th) given market concerns that some Hong Kong banks have suspended account openings for mainland customers, JP Morgan said in its report. However, the broker believed the market has over-discounted concerns over the growth outlook of mainland Chinese visitor (MCV) business in Hong Kong, and there are currently no specific new regulatory policies targeting MCV sales activities. Although Hong Kong's MCV business remains relevant, valuation work suggested Hong Kong accounts for only a limited portion of AIA’s future growth value. The broker forecast AIA's upcoming strong 1H26 results, official comments in August on MCV regulation, a recovery in Thailand's monthly premiums, and upward revisions to mainland insurers' 1H26 new business value (NBV) forecasts to help restore market confidence. Therefore, it recommended investors accumulate into weakness. JP Morgan maintained its Overweight rating on AIA with a TP of HKD112. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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