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Henderson Land Schedules Key Financial Meeting
Henderson Land (00012.HK) plans to hold a board of directors meeting on August 21 to approve its interim performance.
Henderson Land (00012.HK) announced on August 7th that the company will hold a board meeting on Wednesday, August 21, 2024 to approve the publication of the company and its subsidiaries' half-year performance ending on June 30, 2024 and consider the distribution of interim dividends.
HENDERSON LAND: DATE OF BOARD MEETING
Central Plains Real Estate: Market Expects Fed Interest Rate Cut in September, Buyers Enter the Market on Dips Driving the Recovery of Hong Kong Property Market
After the Fed meeting on August 1, the market is expecting a rate cut in September. The atmosphere in the Hong Kong property market is positive, with buyers entering the market on dips and second-hand transactions picking up, and the sentiment of frontline brokers is stabilizing.
The expectation of interest rate cuts from the external market has driven up the speculation on hong kong property stocks, while they are attempting to find a bottom.
Under the influence of the expectation that the US Federal Reserve may cut interest rates by 50 basis points in September, Hong Kong's bank and real estate stocks showed different trends, and the Hong Kong stock market fell on Monday. The financial and real estate sectors were respectively the worst and best performers. Hong Kong local real estate stocks, which are sensitive to interest rates, were sought after in anticipation of a 50-point rate cut by the Federal Reserve in September. The real estate classification index rose more than 1% against the market trend yesterday, and most of the real estate stocks formed a consolidation at a stage low. Yesterday, Jiulong Real Estate (01997) and Shanghai New World (00017) rose by 6.7% and 7.9% respectively during trading, while Henderson Land (00012) and Sun Hung Kai Properties (00016) also rose by more than 2%.
Most Hong Kong property stocks are falling. Hang Lung Properties (00101) fell by 14.24%. Morgan Stanley expects the average mid-term core earnings per share for the industry to fall by 7%.
Kinwu Finance News | Most of the Hong Kong property stocks fell, Hang Lung Properties (00101) fell by 14.24%, Swire Properties (01972) fell by 4.4%, SHK PPT (00016) fell by 3.43%, Wharf REIC (01997) fell by 3.33%, and Henderson Land (00012) fell by 2.69%. JPMorgan's research report predicts that Hong Kong property stocks will gradually announce their mid-term or full-year performance in the coming months, with an average core EPS drop of 7%, mainly due to lower rental income, pressure on gross profit of development projects and rising financing costs. Most of the property stocks should have a dividend per share.
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