01299 Should I Buy

Morgan Stanley rated AIA as Overweight due to a strong 13% growth in value of new business (VNB) for 1Q26, which exceeded market expectations. The growth was particularly driven by a 21% increase in Hong Kong business and a 26% increase in the China business. Despite a decline in Thailand business, the overall results are seen as healthy and are expected to bolster market confidence in achieving mid-teens full-year growth.