The Zhitong Finance App learned that, after deducting the Mainland and Hong Kong, AIA (01299)'s business trends in other regions in the second half of last year are expected to continue until the first quarter of this year. AIA is still one of the bank's top choices and has given it a target price of HK$100 and a “buy” rating.
The bank expects the value of AIA's new business in the first quarter to rise 24% year over year at fixed exchange rates and 21% in real exchange rates, benefiting from strong business trends in mainland China and Hong Kong, and a lower base due to the impact of the pandemic in January last year. Among them, the value of new mainland businesses increased 22% year over year in fixed exchange rates, and Hong Kong increased by 42% year on year. It also indicates that mainland visitors to Hong Kong in the first quarter have recovered to the level of 71% in 2018.