On August 13, Glon Hui | DBS published a research report stating that Manulife Financial is in a favorable position in the industry. In addition to being able to capture the long-term trend of the Asian life insurance industry and global retirement needs, the company also benefits from substantial progress in optimizing investment portfolios. In addition, Manulife's core earnings and new business value in the second quarter of this year increased by 6% and 23%, respectively, slightly higher than expected. The bank believes that Manulife has entered a stage of accelerated growth, and it is expected that the core shareholder return on equity in fiscal year 2027 will increase to more than 18%, mainly based on the continuous increase in core profitability contribution of its higher potential business, stronger economic scale and strict expenditure discipline, and the benefits of digitalization. In addition, considering the impact of Manulife's reinsurance transactions and the weak performance of alternative investments, DBS lowered Manulife's profit forecast for fiscal years 2024 and 2025 by 11% and 7% respectively, and maintained its new business value growth forecast at 20% and 15% respectively, with a target price lowered from HKD 230 to HKD 226. Given the optimistic prospects of the Asian insurance industry and the growth of Manulife's global wealth asset management business in fiscal years 2024 and 2025, DBS reiterated its 'buy' rating on Manulife.