On October 9, AIA rose 3.54% in regular trading, trading at HK$71.75/share, with turnover of HK$1.065 billion.

The move came as multiple investment banks issued positive research notes, forming short-term sentiment support. Citigroup forecasts AIA's third-quarter VONB will only contract 2.6% year-on-year on a constant exchange rate basis, citing a high base effect and regulatory changes in China's bancassurance channel, while maintaining a Buy rating with a HK$103 target price. BofA Securities also reiterated its Buy rating, noting the sharp drop on the first day of Golden Week stemmed from thin liquidity and absence of southbound capital rather than fundamental issues. Jefferies believes AIA's Thailand business is undervalued, and CLSA reiterated AIA as its top pick among China-Hong Kong financial stocks.

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