Goldman Sachs released a research report sayingcryptofreegames, gave a "buy" rating to AIA (01299) with a target price of HK$98.

The report said that the company's new business value in the first quarter was 13cryptofreegamesUS$27 billion, up 31% year-on-year at constant exchange rates and 27% at real exchange rates, well above the bank's expectationscryptofreegamesIn real exchange rate terms, growth was 19%. Among them, mainland China and major ASEAN markets (Thailand, Singapore, and Malaysia combined) saw stronger growth in the value of new business, while China Hong Kong remained the fastest growing market, in line with the bank's expectations.

The bank pointed out that AIA has also proposed capital management policies, including a commitment to distribute 75% of its net earnings every year and an additional US$2 billion in share repurchase over the next 12 months. Goldman Sachs expects the move to be welcomed by investors because uncertainty about long-term shareholder returns is a major market concern after the 2023 fiscal year results are announced.