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<Research>CLSA Recommends AIA/ PICC GROUP/ PING AN/ PICC P&C Among Insurers, All Rated Outperform
Recommend 59 Positive 69 Negative 27 |
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CLSA has released a research report noting that several Chinese insurers had already issued their positive profit alerts, starting with NCI (01336.HK), followed by CPIC (02601.HK), PICC GROUP (01339.HK), and PICC P&C (02328.HK). Such growth was primarily driven by investment gains from the stock market rebound at the end of September, which aligned with the broker's expectations. Such a strong stock market rebound and related 3Q earnings growth might be difficult to replicate in 4Q, the broker added. The broker focused on stocks with improved fundamentals and inexpensive valuations, recommending AIA (01299.HK), PICC GROUP, PING AN (02318.HK), and PICC P&C, all rated Outperform. AAStocks Financial News |
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