Investment Daily Note

Premier Li Keqiang chaired the State Council on 24 Feb and said the annual purchase ratio of new energy vehicles (NEVs) for central government, departments with new energy vehicle promotions, and public institutions will be raised above 50 percent. We estimate that the news is positive to NEV-related stocks like BYD (1211.HK).

AIA (1299.HK)announced its results for the year ended 30 November 2015. During the FY, net profit declined 18% on constant exchange rates and 22% on actual exchange rates, but final dividend significantly increased by 50%, which may bring support to stock price.