0640 GMT - Prudential PLC increasing its share buyback program by a further $300 million appears to be a pleasant surprise to DBS Research's Ken Shih. The move is supported by a partial stake sale in the insurer's joint venture with ICICI Bank. Prudential PLC's interim dividend rose 15% on year, which slightly beat the analyst's expectations. This demonstrates its strong commitment to continuously enhance its shareholder value and returns, Shih says in a note. Still, short-term interest rate volatility weighed on the insurer's 1H IFRS-adjusted net profit, prompting the analyst to reduce his 2026-2027 projections by 10%-18%. DBS maintains its buy rating and 138.00 Hong Kong dollar target price. Shares decline 1.65% to HK$107.20.
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