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BofA Merrill Lynch, in its latest research report, said AIA (01299.HK)  -0.400 (-0.964%)    Short selling $26.83M; Ratio 2.426%   third-quarter Value of New Business (VOBN) grew faster than expected, mainly because of the lifted new premium growth and higher profit margin. It is surprising for the annualised new premium to rise 13%, while the VOBN margin rose 4 ppt yearly to 48.7%, as the 1H profit margin of 46% was already at a high level. 
The Buy investment rating was reiterated with target price $47.

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