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Hong Kong property stocks generally fell, shk ppt (00016) fell by 2.8%. Morgan Stanley predicts that second-hand property prices will continue to be under pressure in the next six months.
Kin Wu Financial News | Hong Kong property stocks generally fell, with SHK PPT (00016) dropping 2.8%, Wharf REIC (01997) dropping 2.65%, New World Dev (00017) dropping 2.26%, Hang Lung PPT (00101) dropping 2.21%, CK Asset (01113) dropping 1.51%, Henderson Land (00012) dropping 0.96%. In terms of news, JPMorgan published a report indicating that after the USA rate cut, Hong Kong banks lowered the Hong Kong dollar prime rate by another 25 basis points on November 8th (last Friday). This rate cut came earlier than market expectations, but not entirely unexpected.
The Past Five Years for New World Development (HKG:17) Investors Has Not Been Profitable
Hong Kong stocks anomaly | New World Dev (00017) rose more than 4% in the afternoon, the policy address has a positive long-term impact on the industry. Institutions have previously raised the company's profit forecast.
New World Development (00017) rose more than 4% in the closing stages, as of the time of writing, up 3.68%, at HK$8.16, with a turnover of HK$78.3476 million.
NEW WORLD DEV: 2024 ANNUAL REPORT
[Brokerage Focus] CICC pointed out that the policy address provided limited support for Hong Kong real estate, but it will have a positive long-term impact on the industry.
King's Financial News | CICC released research reports, stating that the Chief Executive of Hong Kong has just announced the 2024 Policy Address, introducing population, economic, and housing policies favorable to the real estate industry. Although these incremental policies may be limited in scope and may disappoint some market participants to a certain extent, the reality is that the Hong Kong government does not have a lot of room for policy relaxation. Policy initiatives to attract talent and promote the economy may be the best outcome the industry can expect. The firm believes that these policies will have a positive impact on the real estate industry over time, especially for companies focused on community retail like Link and other house rental companies like N
Shanghai New World Huang Shaomei: The recent real estate adjustment and optimization policies of the central government are the most significant in recent years.
Before and after the National Day holiday, the central and local governments have successively introduced multiple real estate optimization measures, from the central bank's reserve ratio cut and interest rate cut, lowering down payment ratios, to the implementation of new property policies in Beijing, Shanghai, Guangzhou, and Shenzhen, especially the Politburo meeting on September 26 proposing to "promote the stabilization of the real estate market", greatly boosting market confidence. Shanghai New World Development held an online management non-trading roadshow on October 16. Regarding the recent bullish real estate policies, Ms. Huang Shaomei, Executive Director and CEO of Shanghai New World China, believes that the recent adjustment and optimization policies by the central government regarding real estate are the most significant in recent years, indeed impacting the market significantly.
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