[ET Net News Agency, 10 June 2021] Nomura lowered its target price for AIA (01299) to
HK$93.29 from HK$93.41 and maintained its "neutral" rating.
The research house said for the Hong Kong market, it expects onshore business to
continue its strong recovery momentum (1Q21 double-digit VONB growth), but the offshore
business is not likely to substantially improve in FY21F against the backdrop of
HK-Mainland cross boarder travel restrictions, even though the robust growth in the Macau
branch may alleviate some of the pressure. (RC)