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    1299   HK0000069689

AIA GROUP LIMITED

(1299)
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Insurer AIA and tech giants lead Hong Kong shares up

11/15/2021 | 03:56am EST

Nov 15 (Reuters) - Hong Kong shares finished up on Monday driven up by insurer AIA and tech giants. AIA jumped most in six weeks after its new business value rebounded from a pandemic slump.

The Hang Seng index rose 0.3%, to 25,390.91, while the China Enterprises Index lost 0.3%, to 9,085.60 points.

** Asia-focused insurer AIA Group Ltd climbed 2.3%, after it posted a 2% rise in its Q3 value of new business (VONB) at constant exchange rate (CER) as it continues to recover from the pandemic-led disruption to business in most of its main markets.

** The index heavyweight insurer pushed the Hang Seng Index up 44 points.

** The Hang Seng Tech Index added 0.5%, but shares in the sector were mixed, with Alibaba Group down 0.6% while Tencent Holdings up 1.4%.

** Property investment and sales growth in China continued to slow over January-October compared with the first nine months, and new construction starts measured by floor area fell.

** "The weakness in the land market suggests that funding conditions for developers have not significantly improved and may continue to weigh on new home starts and new home sales," said Nomura in a note.

** "Any appropriate relaxation in the funding restrictions for the developers will help support China growth momentum in Q4," said Ken Cheung, Chief Asian FX Strategist at Mizuho Bank.

** Country Garden Services Holdings slumped 5.8%, the biggest percentage decliner on the Hang Seng Index, and the Hang Seng Mainland Properties Index lost 3.5%. (Reporting by the Shanghai Newsroom, editing by Ed Osmond)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIA GROUP LIMITED -1.08% 82.3 End-of-day quote.4.71%
COUNTRY GARDEN SERVICES HOLDINGS COMPANY LIMITED -0.63% 39.2 End-of-day quote.-16.06%
TENCENT HOLDINGS LIMITED -2.75% 452.8 End-of-day quote.-0.88%
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Financials (USD)
Sales 2021 35 512 M - -
Net income 2021 6 565 M - -
Net Debt 2021 - - -
P/E ratio 2021 19,3x
Yield 2021 1,83%
Capitalization 130 B 130 B -
Capi. / Sales 2021 3,66x
Capi. / Sales 2022 3,36x
Nbr of Employees 23 000
Free-Float 100,0%
Chart AIA GROUP LIMITED
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Technical analysis trends AIA GROUP LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 30
Last Close Price 10,56 $
Average target price 14,13 $
Spread / Average Target 33,8%
EPS Revisions
Managers and Directors
Yuan Xiang Li President, Group CEO & Executive Director
Garth Jones Group Chief Financial Officer
Sze-Wing Tse Independent Non-Executive Chairman
Biswa Misra Group Chief Technology & Operations Officer
Mark Konyn Group Chief Investment Officer