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[Special guest Big V] Deng Shengxing: Hong Kong stocks continue to be weak and powerless to rise.
The Dow Jones Industrial Average closed at 40,345 points on Friday, a decrease of 410 points or 1.01%. The S&P 500 fell 1.73% to 5,408 points, while the Nasdaq dropped 2.55% to 16,690 points. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, retreated 0.77%. In terms of individual stocks, Tesla and Nvidia fell 8.5% and 4.1% respectively, while Alphabet also declined 4%. Chipmaker Broadcom's revenue forecast for this quarter was disappointing, resulting in a 10.4% drop in stock price. Individual movements in the Asia-Pacific stock market this morning (9th).
Morningstar: Maintains a fair value forecast of HK$115 for SHK PPT (00016), with Henderson Land (00012) as the top choice.
Morningstar has revised down its forecast for SHK ppt's basic surplus for fiscal year 2025 by 13%.
Hong Kong property stocks generally rose, with Wharf REIC (01997) up 3.48%. Institutions predict that Hong Kong residential property prices will rebound by 5% next year.
Golden Information | Hong Kong property stocks are generally rising, with Wharf REIC (01997) up 3.48%, Hysan Dev (00014) up 2.45%, SHK PPT (00016) up 2.17%, Henderson Land (00012) up 2.15%, and New World Dev (00017) up 2.12%. Morgan Stanley published a research report indicating that Hong Kong is in a unique position to benefit from lower interest rates in the U.S. and higher economic growth in China. Market expectations are that the U.S. will cut interest rates, which is a bullish factor for Hong Kong real estate developers. Currently, property developers' valuations are at historic lows.
Property mortgage applications in Hong Kong decreased by 50% month-on-month in August, reaching a 4-month low.
Cao Deming said that the cooling effect did not continue, and the pace of developers' new launches has slowed in recent months, leading to a decline in both primary and secondary market transactions. In addition, the lack of large new property launches has contributed to the monthly decline in the number of existing building and presale cases in August.
Don't Buy Henderson Land Development Company Limited (HKG:12) For Its Next Dividend Without Doing These Checks
HENDERSON LAND DEV To Go Ex-Dividend On September 4th, 2024 With 0.06415 USD Dividend Per Share
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