The Zhitong Finance App learned that Bank of America Securities released a research report stating that AIA (01299.HK) plummeted 5% on the first day of the China Golden Week holiday, and the Hang Seng Index fell 3% during the same period. According to the bank, the first day of the Golden Week in the past 6 years also saw a similar high level of volatility. The first day's performance did not indicate a trend for the entire month of October; the sharp decline was mainly due to quiet transactions and absence of capital inflows to the south, rather than fundamental issues. Reiterating the “Buy” rating, the target price is HK$95.
Zhitongcaijing · 2d ago
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The Zhitong Finance App learned that Bank of America Securities released a research report stating that AIA (01299.HK) plummeted 5% on the first day of the China Golden Week holiday, and the Hang Seng Index fell 3% during the same period. According to the bank, the first day of the Golden Week in the past 6 years also saw a similar high level of volatility. The first day's performance did not indicate a trend for the entire month of October; the sharp decline was mainly due to quiet transactions and absence of capital inflows to the south, rather than fundamental issues. Reiterating the “Buy” rating, the target price is HK$95.
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