Citi reiterated the purchase rating of No. 1 Taiping (00142.HK), and the target price was raised from 6.8 yuan to 7.2 yuan.

Two major telecommunications companies in the Philippines, Philippine Long Distance Telephone (PLDT) and Globel Telecom (Globel Telecom), jointly acquired the telecommunications business of San Miguel Corporation for 1.5 billion US dollars. According to a report published by Citi, this will prevent a third mobile communication competitor in the Philippines, and at the same time allow Philippine long-distance calls to use more spectrum, reducing operating costs and capital expenses.

According to the bank, Savills's investment in a Philippine long-distance telephone company is equal to 32% of its overall net asset value. The latter's stock price rose 17% after the news was announced, but there was no major change in Savills's stock price. The bank raised the estimate of Savills's net asset value to $11.25 per share. According to the bank, Savills's current stock price asset discount reached 57%, higher than the historical average of 36%.