Great Wall Securities: Lowered the target price of China Insurance (01299.HK) to HK$100, reiterated a "buy" rating. Expected the VONB in the second quarter to increase by 13% year-on-year.

According to the Securities Times APP, Dahua Jixian released a research report stating that mainland China has launched a large-scale crackdown on cross-border capital since late May, cracking down on illegal cross-border securities transactions and capital outflows, and for the first time including individuals in the supervision framework for overseas investments. The bank points out that the market may have overreacted to the potential impact of the new measures on the mainland customer business (MCV) of Friends Provident International (01299.HK), and does not expect a complete ban under normal circumstances, but some degree of tightening is possible. The bank maintains a "buy" rating, with the target price lowered from the original 109 Hong Kong dollars to 100 Hong Kong dollars.