AIA Group Stock (OTC:AAGIY), Trade Ideas

AIA Group

AIA GROUP LTD

AIA is one of the largest pan-Asian insurance providers with a wide range of products including retirement savings plans, life insurance, and accident and health insurance. The company is headquartered in Hong Kong. It was previously part of AIG and went for a separate listing in Hong Kong in 2010. The firm also provides employee benefits, credit life, and pension services to corporate clients. AIA is present in 18 markets and serves the holders of more than 30 million individual policies and over 16 million participating members of group insurance schemes.

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Hong Kong stocks rallied Friday as the week closed out higher for consumer stocks and EV makers which investors hope will be the beneficiary of a forthcoming government stimulus.  

The Hang Seng Index ended the day 2.1% higher at 17,398.73 while China’s CSI 300 Index rose 1.4% to 3,562.39.

Strong Consumer Turnout Drives Hong Kong Stocks Higher Friday As China&#39;s Former Premier Li Keqiang Dies At 68

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Last week was a quiet trading week in Hong Kong, with just half the normal daily volumes traded as a result of a 7-day national holiday in China.

Still, some companies took the opportunity to repurchase their own shares, many of which are suffering from a sharp sell-off as part of a broad decline among China stocks this year.

These 5 Hong Kong Companies Bought Back Around 0.1% Of All Their Shares In Issue Last Week

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A total of 38 companies repurchased HK$810 million ($105 million) of their shares on the Hong Kong Stock Exchange Thursday.

These Hong Kong-Listed Companies Spent Over $10 Million Thursday Buying Back Their Own Shares

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Hong Kong stocks rallied Friday as the week closed out higher for consumer stocks and EV makers which investors hope will be the beneficiary of a forthcoming government stimulus. &nbsp;
The Hang Seng Index ended the day 2.1% higher at 17,398.73 while China&rsquo;s CSI 300 Index rose 1.4% to 3,562.39.
Financials also closed out mostly higher while property firms were sharply up on hopes that if the government steps in there may be an end in view to the wave of defaults that have besieged corporate bond markets this year.
Short-selling volumes dropped by about a quarter from a day earlier to 17.4% of all transaction volumes on the Hong Kong Stock Exchange.
Reports of successful Single&rsquo;s Day presales promotions for Alibaba Group Holding (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) and JD.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jd#NASDAQ">JD</a>) continued to push those stocks higher, which have been heavily beaten-down throughout 2023.
Chinese consumers are currently sitting heavily on cash <a href="https://www.benzinga.com/markets/penny-stocks/23/10/35444172/what-do-q3-earnings-of-two-of-the-largest-chinese-financial-firms-tell-us-about-chinas-econo" style="color:#0563c1">as revealed by substantially higher deposits</a> on China Construction Bank&rsquo;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cichy#OTC">CICHY</a>) earnings statement Thursday. As such, retailers are looking to take advantage of the sales opportunity during the country&rsquo;s November sales season. Competitive discounts and a slew of brand-new product offerings this week have seen record sell-out times for Alibaba and JD.com, according to local reports.
Alibaba told the Chinese language media Friday that over 1,300 brands sold about triple the volume of what they did last year in the first hour of its TMall platform sales Tuesday this week. About 700 brands sold over 5x what they did in the same period last year, the company added. Alibaba also said that leading European and American fashion brands, including Nike Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nike#NYSE">NIKE</a>), made over RMB100 million ($13.7 million) in sales each within that hour.
Among other consumer names, Tencent Holdings Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>) got a boost after Hong Kong&rsquo;s second-largest IPO this year, for J&amp;T Global Express Limited, went live. Tencent is the lead cornerstone investor in the IPO with over 10% of the share allotment. The IPO was oversubscribed by about one and a half times.
Short-selling among consumer names dipped to less than 10% of daily turnover according to traders, with Alibaba seeing just 9.9% of its trading volume represented in short plays, Meituan (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mpngy#OTC">MPNGY</a>) at 6.9% short turnover ratio and Tencent at just 4.5%.
After a 20% decline following an earnings disappointment Thursday, Li Ning repurchased HK$205 million ($26.3 million) of its stock Friday, or around 0.35% of its entire market capitalization, for between HK$23.5 and HK$25.04 a share, helping the stock rise over 3% by day&rsquo;s end.
Alibaba, Meituan and JD.com Inc all finished the day 3% higher, while J&amp;T Global Express held on to its HK$12 offering price by the end of the day&rsquo;s trading.
EV names were also sharply higher, with Nio Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) closing up 2.4%, XPeng Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpev#NYSE">XPEV</a>) 5% higher and Li Auto Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) 3.8% stronger on the day after news that Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) scrapped a discount on its bestselling Model Y EV on the Chinese mainland.
Other active heavyweight stocks on the Hong Kong Stock Exchange included financials China Construction Bank, AIA Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aagiy#OTC">AAGIY</a>) and Ping An Insurance Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/pngay#OTC">PNGAY</a>), which all rose despite short-sellers still targeting the stocks heavily. Short turnover for each of the three companies was between 18%-37% with the highest for AIA, indicating investors are still bearish about the health of Chinese financial firms.
Pharma names did the best of all sectors on hopes that a government stimulus would target the sector heavily, with Hansoh Pharma (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hnspf#OTC">HNSPF</a>) 12% higher, Sino Boipharmaceuticals Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sbmff#OTC">SBMFF</a>) up 10% and Wuxi Biologics (OTC: <a class="ticker" href="https://www.benzinga.com/stock/wxxwy#OTC">WXXWY</a>) rising 7.3% on the day.
In other news, Li Keqiang, China&rsquo;s former premier, died suddenly of a heart attack shortly after midnight Friday at 68 years old. Li was one of China&rsquo;s most popular leaders in history, mostly presiding over a period of 8%+ annual economic growth for the world&rsquo;s second largest economy and hailing in an era of what is viewed as more liberal capitalist style politics on the mainland.

Strong Consumer Turnout Drives Hong Kong Stocks Higher Friday As China's Former Premier Li Keqiang Dies At 68

Last week was a quiet trading week in Hong Kong, with just half the normal daily volumes traded as a result of a 7-day national holiday in China.
Still, some companies took the opportunity to repurchase their own shares, many of which are suffering from a sharp sell-off as part of a broad decline among China stocks this year.
Corporate stock repurchases are often seen as a bullish proxy for investors since it indicates a company&rsquo;s management thinks the shares are too cheap to resist snapping up.
The following are top 5 stock repurchasers in Hong Kong in order of the largest first (all amounts converted into USD):
<ul>
<li>Tencent Holdings Limited (TCEHY) spent by far the largest sum of money on its stock, making $208 million of share purchases, hoovering up 0.05% of all its shares in issue</li>
<li>HSBC plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsbc#NYSE">HSBC</a>) repurchased $91 million of its shares on the open market, which is&nbsp;around 0.06% of its total market capitalization</li>
<li>Insurer AIA Group Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aagiy#OTC">AAGIY</a>) made $70 million of stock repurchases, buying up 0.07% of all its stock in issue</li>
<li>Xiaomi Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/xiacy#OTC">XIACY</a>) spent $20 million, buying back 0.05% of its total market capitalization</li>
<li>Real estate developer ESR GROUP Limited (OTC: ESRGF) bucked the trend of most Hong Kong property firms and although it only spent $4 million it repurchased nearly 0.1% of all its shares in issue</li>
</ul>
On US exchanges, $19 billion infrastructure firm KE Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/beke#NYSE">BEKE</a>) and $220 billion tech giant Alibaba Group Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) also made similarly large purchases of their own ADRs.&nbsp;

A total of 38 companies repurchased HK$810 million ($105 million) of their shares on the Hong Kong Stock Exchange Thursday.
Two more Hong Kong-listed companies, Yum China Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>) and KE Holdings Inc (NYSE: BEKE), are scheduled to make stock and ADR purchases, respectively, in the US trading session.
With Hong Kong shares down 18% on the year, the exchange is one of the poorest performers in the world in 2023, making for what some asset managers are seeing as bargains to be snapped up. Stock repurchases can be a proxy for a company&rsquo;s bullish forecast about its own outlook.
Of all 38 stock repurchases made Thursday, 5 companies spent over eight figures on buying back their shares. &nbsp;Those companies are listed here in order of the amount of money spent with the largest first (all amounts are converted into USD):
<ul>
<li>Concorde New Energy Group Limited bought back $20.4 million of its shares, lifting the stock by 1.6%. The shares are 17% lower year-to-date.</li>
<li>Insurer AIA Group Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aagiy#OTC">AAGIY</a>) repurchased $16.4 million of stock, lifting shares 0.8% for the day.</li>
<li>Dongfeng Motor Group Company Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/dnfgf#OTC">DNFGF</a>) spent $14 million buying back its stock which ended the day down 0.33%. Dongfeng is down 33% year-to-date.</li>
<li>Xiaomi Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/xiacf#OTC">XIACF</a>) scooped up $11 million of its H-listed shares as they dipped 1.5% by market close. The company is flat since the start of the year.</li>
<li>Tencent Holdings Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>) made $10.5 million in stock purchases as the company&rsquo;s shares rose 0.7% during the trading session, ending the year-to-date down 14.2%</li>
</ul>

As Hong Kong markets have sold off hard over the past few months, corporate stock repurchases have surged to an all-time high.
On the Hong Kong Stock Exchange alone in September, companies repurchased HK$12.6 billion ($1.6 billion) of their own shares in 800 separate stock repurchase transactions. Many of these repurchases come on the back of declines of 10% or more for the year.
Stock repurchases can be a bullish proxy for investors since it implies that the company thinks its own shares are too cheap to resist scooping up.
The following is a summary of the top 10 stock repurchasers in Hong Kong during September using data collected from the Hong Kong Stock Exchange (all amounts translated into USD):
<ul>
<li>HSBC Holdings PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsbc#NYSE">HSBC</a>) came in first place, repurchasing $409,217,026 of its shares back from the market. HSBC shares rose 5.6% last month as a result of the big buy-up and are up 25% this year.</li>
<li>AIA Group Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aagiy#OTC">AAGIY</a>) was second place with $262,323,620 of stock purchases in Hong Kong during September. Despite the big buys, AIA has fallen 5.8% over the last month, and is down a massive 26% year-to-date.</li>
<li>Tencent Holdings Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>) was in third as it bought back $171,823,860&nbsp;cumulative value of shares in individual daily purchases in September while the stock plunged 9.8%, wiping out the year&rsquo;s gains.</li>
<li>Xiaomi Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/xiacf#OTC">XIACF</a>) made $98,160,452 of stock repurchases over the month, which helped the stock earn out about half its year-to-date gains. Xiaomi is up about 5% on the year.</li>
<li>Sinopec Shanghai Petrochemical Limited bought back $61,156,160 of its shares which nevertheless plunged 8% on lower oil prices and friction for Chinese exporter stocks. The shares have fallen 25% year-to-date.</li>
<li>Simcere Pharma Group Limited fell 1.5% last month despite making $41,502,760 worth of share repurchases, extending its massive 45% losses for the year-to-date period</li>
<li>CK Asset Holdings Limited (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cngky#OTC">CNGKY</a>) repurchased $38,376,650 of shares in Hong Kong September. Still, CK Asset&rsquo;s shares extended the year&rsquo;s 16% losses, dropping 5.6% over the last month.</li>
<li>Mobvista Inc. made $33,522,580 of stock buy-backs, while its shares fell 10% over the month in the broader market sell-off.</li>
<li>Tianli International Holdings Limited fell 7.2% even as the company&rsquo;s management spent $30,908,046 buying back its shares.</li>
<li>Hong Kong Technology Venture Co Ltd dropped 10% as it bought back $10,718,693 of shares. The stock is now down 45% this year.</li>
</ul>
In US markets, four Chinese companies made stock repurchases, two of them substantial in size. Infrastructure play KE Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/beke#NASDAQ">BEKE</a>) spent $123,047,896 on ADR repurchases as its shares fell more than 13% in September, while Yum China Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>)&nbsp;ended the month flat after snapping up $39,499,452 of its shares. Included in the Hong Kong share buy-back data, that puts KE Holdings and Yum China in 4th and 7th place among the island&rsquo;s largest stock repurchasers in September, respectively.
Among smaller share repurchasers on US markets were Zhihu Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zh#NYSE">ZH</a>), which spent $2,048,366 on share buy-backs and Tuya Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tuya#NYSE">TUYA</a>), repurchasing $957,361 of its shares.

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Here's A List Of The Top 10 Hong Kong Companies Buying Back Their Shares In September

<ul>
<li>On March 31,&nbsp;Tencent Holdings Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>) applied to add an RMB counter to support the HKD-RMB dual counter model by the Hong Kong stock exchange.&nbsp;</li>
<li>The HKD-RMB dual counter model will enable liquidity and price efficiency for RMB-denominated shares and expand the trading channels for shareholders and potential&nbsp;<a class="editor-rtfLink" href="https://www1.hkexnews.hk/search/titlesearch.xhtml?lang=en" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">investors</a>.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/02/30800865/tencent-prepared-to-launch-bevy-of-games-this-december-as-domestic-regulatory-crackdown-cools-down" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Tencent Prepared To Launch Bevy Of Games This December As Domestic Regulatory Crackdown Cools Down</a></li>
<li>In December, the stock exchange disclosed plans to introduce a new dual counter trading model from the first half of 2023, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/technology/tencent-applies-dual-counter-trading-hong-kong-exchange-2023-03-31/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">reports</a>.</li>
<li>The dual currency counter will further advance the internationalization of the Chinese yuan, the Hong Kong bourse operator said earlier this month.</li>
<li>Hong Kong-listed companies like insurer&nbsp;AIA Group, Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/aagiy#OTC">AAGIY</a>) have also applied for a dual currency counter.</li>
<li>Price Action:&nbsp;TCEHY shares closed higher by 1.28% at $49.92 on Thursday.</li>
</ul>

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Stocks That Hit 52-Week Highs On Tuesday

Hong Kong saw a market-wide drop on Wednesday as markets opened after the Lunar New Year holidays.
<h3>What Happened</h3>
Concerns over the spread of novel coronavirus continue as the official death toll rose to 132 by the end of Tuesday (Beijing Time), with 5,974 cases confirmed, as <a href="http://www.xinhuanet.com/english/2020-01/29/c_138740593.htm">reported</a> by China&#39;s state-run Xinhua News Agency.
Governments across the globe, including the United States and Australia, are advising citizens to avoid unnecessary travel to China, while&nbsp;many companies, including Facebook Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>), have restricted employee travel to the country.
International Consolidated Airlines Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/icagy#OTC">ICAGY</a>) subsidiary British Airways has suspended all direct flights to and from China.
United Airlines Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) suspended some of its flights to and from China as President Donald Trump&#39;s administration said it might suspend all flights between the two countries all together if coronavirus poses a bigger threat, the Washington Post <a href="https://www.washingtonpost.com/local/trafficandcommuting/white-house-warns-airlines-a-ban-of-all-china-u-s-flights-is-possible-amid-growing-concerns-about-coronavirus-outbreak/2020/01/28/e39ae8ee-422b-11ea-aa6a-083d01b3ed18_story.html">reported</a>.
The first case in the middle-east region was confirmed in the United Arab Emirates Wednesday, as <a href="https://www.khaleejtimes.com/uae/abu-dhabi/Coronavirus-UAE-confirms-first-case-of-2019-nCoV-virus-in-visitor-from-Wuhan">reported</a> by Khaleej Times.
Hong Kong has suspended all train and ferry services to and from mainland China, the flights have been halves, and no permits are being issued to visitors from the mainland, BBC <a href="https://www.bbc.com/news/world-asia-china-51279726">reported</a> Tuesday. At least eight deaths have been confirmed in the special administrative region.
<h3>Price Action</h3>
Here&#39;s how Hong Kong stocks performed at close on Wednesday:
The overall Hang Seng Index closed 2.82% lower at 27,160.63.
Chinese e-commerce giant Alibaba Group Holdings Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) was down 3.36% at $26.68; the&nbsp;internet conglomerate Tencent Holdings Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcehy#OTC">TCEHY</a>) traded 0.67% lower at $49.29.
British bank HSBC Holdings plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsbc#NYSE">HSBC</a>) was down 2.04% at $7.40.
Life insurer AIA Group Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aagiy#OTC">AAGIY</a>) closed 2.65% lower at $10.39; Ping An Insurance (OTC: <a class="ticker" href="https://www.benzinga.com/stock/pngay#OTC">PNGAY</a>) was down 3.32% at $11.80.
Real estate company Hang Lung Properties&#39; (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hnlgy#OTC">HNLGY</a>) shares dropped 6.67% lower at $2.16.
Markets in Japan and South Korea made a recovery after <a href="https://www.benzinga.com/markets/cryptocurrency/20/01/15195269/asia-stocks-drop-as-death-toll-from-coronavirus-continues-to-rise-companies-hold-back">the plunge</a> on Tuesday. Nikkei 225 index was up 0.71% at 23,379.40, and KOSPI closed 0.39% higher at 2,185.28.
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<a href="https://www.benzinga.com/markets/cryptocurrency/20/01/15195269/asia-stocks-drop-as-death-toll-from-coronavirus-continues-to-rise-companies-hold-back">Asia Stocks Drop As Death Toll From Coronavirus Continues To Rise, Companies Hold Back</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/20/01/15195491/crypto-markets-cryptocurrencies-surge-as-coronavirus-spreads-singapore-brings-new-regulati">Crypto Markets: Cryptocurrencies Surge As Coronavirus Spreads, Singapore Brings New Regulation</a>

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Alibaba, Tencent, HSBC, Other Hong Kong Stocks Drop Over Coronavirus Concerns As Markets Open After Holiday

AIA Group (OTC: <a class="ticker" href="/stock/aagiy#OTC">AAGIY</a>) reported an 89% surge in its 2012 net profit.

AIA Group's new business value rose to US$1.19 billion, from US$932 million, in the year-ago period. 

Its net profit jumped to $3.02 billion from US$1.60 billion, beating analysts' estimates of US$2.639 billion.

AIA Group shares closed at $16.40 yesterday.

Earnings

AIA Group Posts Upbeat 2012 Profit

AIA Group Ltd (OTC: AAGIY) reported a 27% y/y rise in its value of new business for the first quarter.

AIA's value of new business surged to US$232 million from US$182 million. In the quarter, annualised new premiums gained 6% to US$543 million from US$512 million.

AIA Group shares closed at $14.38 yesterday.

AIA Q1 New Business Value Surges 27%

These Financial Services stocks are trading higher:-Terawulf Inc (WULF) stock is trading at $2.16, an increase of $0.44, or 24.71%, on moderate volume.  Terawulf Inc gets a Sentiment Score of Neutral from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $3.60.  -Digital

Financial Services Stocks Moving Wednesday: WULF, DWAC, IREN, ARBK, STI, TIGR, PUK, AAGIY

ClearBridge International Growth EAFE Strategy Q1 2024 Portfolio Manager Commentary