HK Stock Market Move | AIA (01299) rose by over 5% again, with the third quarter new business value significantly exceeding expectations and outperforming peers.

AIA (01299) rose more than 5%, rising 5.04% to HK$79.25 as of press time, with a turnover of HK$26.64 billion. On the news front, AIA recently announced that the new business value in the third quarter increased by 27% to US$1.48 billion at actual exchange rates, with a new business value profit margin of 58.2% and annualized new premium growth of 15% at actual exchange rates; total weighted premium income in the third quarter was US$11.91 billion. Goldman Sachs stated that due to the significant outperformance of quarterly new business value compared to expectations and outpacing the closest peers, it is expected that AIA's stock price will have a positive reaction after the earnings announcement. In addition, AIA's quarterly new business contract margin increased by 25% year-on-year, which will continue to drive profit growth and free surplus generation. UBS pointed out that by channel, the agency and partnership channels recorded strong growth of 19% and 46% respectively, with the agency channel contributing to over 70% of the new business value, believing that contributions from the agency channel will continue to be a key focus for business growth within the group. Calculated at fixed exchange rates, Hong Kong's third quarter new business value increased by 40%, reaching a historical high; new business value in the Chinese market also increased by 27%.