Investment Daily Note

American international Group (AIG) has raised HK$9.68 billion by selling 740 million shares of PICC P&C (2328.HK)for HK$13.08 per share, as AIG reported a 1Q loss of US$183 million. However, as the selling price was at a discount of 7.9% to the closing price last Friday (29 April), it is estimated that stock price of PICC P&C would face pressure downward.

HSBC (5.HK)is scheduled to release 1Q results for 2016 today. Markets expected pre-tax profit 1Q would drop 40% yoy, and it may post impacts on its dividend schedule.We suggest investors to pay attention to the results.