BofA Securities: AIA's (01299.HK) sharp drop on the first day of Golden Week is not a fundamental issue; reiterates "Buy" rating.

Zhito Finance APP has learned that BofA Securities issued a research report stating that AIA (01299.HK) plunged 5% on the first day of China's Golden Week holiday, while the Hang Seng Index fell 3% over the same period. The bank noted that similar high volatility has been seen on the first day of Golden Week over the past six years, and the first-day performance does not predict the trend for the entire month of October; the sharp decline was mainly due to thin trading and the absence of southbound capital inflows, rather than fundamental issues. It reiterated the "Buy" rating with a target price of HK$95.