The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0712 GMT - AIA's underlying business quality remains intact after its 1H results, says DBS Group Research's Ken Shih in a note. The Hong Kong insurer's Chinese mainland visitor business growth softened on a high base, the analyst notes. AIA management says policies for offshore capital controls and taxation have been in place for a long time but the latter has largely not been a concern for the Chinese mainland visitor segment, he notes. "Overall, the structural demand for currency diversification and superior medical coverage remains intact," he adds. DBS cuts its 2026-2027 new business value projections by 5% to partly reflect high base effects, leading to a lower target price of 106.00 Hong Kong dollars from HK$108.00. DBS maintains its buy rating. Shares rise 2.75% to HK$74.75. (megan.cheah@wsj.com)

0653 GMT - Bitcoin rises around 4% to a 12-week high of $75,681, according to LSEG data. The cryptocurrency is boosted by a combination of regulatory momentum, institutional spot demand, lower-yield expectations and forced short covering, Zaye Capital Markets' Naeem Aslam says in a note. President Trump has urged lawmakers to pass a "fair version" of the Clarity Act, a proposed U.S. federal bill aimed to create a clear legal framework for crypto currencies and digital assets. "That materially changes the regulatory risk premium surrounding bitcoin because clearer rules can make banks, asset managers and corporations more comfortable allocating capital to the sector, while the possibility of additional sovereign holdings strengthens bitcoin's scarcity narrative," Aslam says. (emese.bartha@wsj.com)

1902 GMT - Coinbase CEO Brian Armstrong is optimistic that the Clarity Act, crypto-friendly legislation that's still working its way through the Senate, will get passed with more than 60 votes. Democrats and Republicans both got "90% or so" of what they want in the bill proposal, Armstrong tells CNBC. "In any deal I've been a part of, you say yes to that deal," Armstrong says. Senate majority leader John Thune scheduled a floor vote on the bill for Sept. 15. "[Thune] would not have scheduled this on Sept. 15 if he didn't think it would pass," Armstrong says. (dean.seal@wsj.com)

1847 GMT - The chief of Coinbase says it will be up to Congress and the White House to solve the large looming ethics question about the Trump family's financial interest in bolstering the crypto industry. The president has offered to put language in the Clarity Act, crypto-friendly legislation that Trump supports but has stalled in Congress, that would address some of the open ethical issues at hand, Coinbase CEO Brian Armstrong tells CNBC. Among potential solves are the president moving his funds into a blind trust. But the ethical challenges shouldn't derail the Clarity Act, Armstrong says. "We should not leave the status quo and leave Americans unprotected in a morass of state legislation to operate in the U.S., that's just going to ensure this all goes offshore." (dean.seal@wsj.com)

1100 GMT - Munich Re is paying a generous price for U.S.-based cyber insurance company At-Bay and investors have mixed feelings about the deal, Jefferies' Philip Kett and Derald Goh write. The German reinsurance company said Wednesday that it was buying At-Bay for $575 million. The company diversifying makes sense, Jefferies says, but notes contrary feedback from investors. "Some investors are of the view that management ought to return more capital via the buyback to help achieve the [earnings per share] target, instead of over-paying for M&A," Jefferies writes. The At-Bay business is loss-making and isn't expected to break-even until 2029-30, the analysts note. The company is also operating in a weakening cyber insurance market, meaning the valuation could appear more generous, the analysts add. Shares are down 1.0%, and are 9.4% lower over the year-to-date. (michael.hennessey@wsj.com)

1020 GMT - Standard Life's U.K. pension-risk transfer partnership with a consortium led by CVC Capital Partners and Prudential Financial is highly positive for the British insurer, J.P. Morgan analysts say. The deal doubles Standard Life's capacity in the U.K. PRT market and allows it to compete with the biggest players, the analysts write. The deal means Standard Life won't take all the capital strain or risk, and will also receive further capital-light earnings, JPM notes. As a result, the partnership will be accretive to consensus forecasts. JPM reiterates its overweight recommendation on the stock, with a price target of 1,075 pence. Shares are down 0.2% at 902 pence.