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Market Chatter: Hong Kong Property Developers to Put About 18,000 Apartment Units on Market
UBS Group: Preferring developer stocks, with Henderson Land and Kerry Properties as top choices.
UBS Group released a report stating that due to the cyclical downturn in the residential market, the bank is more bullish on developers rather than house rental companies because strong rental growth indicates a healthy potential supply/demand. The bank expects real estate sales and prices to stabilize as interest rates become more favorable. TaiKoo (01972), Henderson Land (00012), and Kerry PPT (00683) are its top picks. UBS Group stated that Hong Kong's retail sales in August decreased by 10.1% year-on-year, reaching only 29 billion Hong Kong dollars, slightly below the market consensus of a 9% year-on-year decline, but the year-on-year decline has slightly narrowed. The bank estimates that there are a significant number of Hong Kong people leaving the city, while on the other hand, the numbers
Daiwa: Expects Hong Kong's retail sales growth rate to remain negative in the second half of the year, prefers Link and rates it as a "shareholding".
Morgan Stanley released a report stating that Hong Kong's August retail sales narrowed by 10% year-on-year (July: -12%), despite a record high number of Hong Kong residents traveling abroad, the data still exceeded the bank's expectations. The visibility of recent improvements in retail sales remains very low. The bank's top pick is Link REIT (00823), with an investment rating of "shareholding". Morgan Stanley pointed out that Wharf REIC (01997), Link and Hysan Dev (00014) have underperformed the Hang Seng Index by 23-40 percentage points since the beginning of the year. Retail sales were negative in March. The bank expects Hong Kong's retail sales growth rate to remain negative in the second half of this year, indicating a negative trend for these stocks.
Hong Kong property stocks rose in the morning session, with r&f properties (02777) up more than 24%, as expectations of fiscal measures continue to heat up and boost the outlook for rental income.
hong kong property stocks rose in the morning, as of the close of the press release, r&f properties (02777) rose by 24.55%, to 1.37 Hong Kong dollars; hang lung ppt (00101) rose by 10.65%, to 7.48 Hong Kong dollars; new world dev (00017) rose by 4.62%, to 10.44 Hong Kong dollars; wharf reic (01997) rose by 4.14%, to 27.65 Hong Kong dollars.
Wharf Real Estate Investment's (HKG:1997) Five-year Decline in Earnings Translates Into Losses for Shareholders
Hong Kong stock unusual movement | Wharf Reic (01997) rose nearly 6% to a four-month high, institutions point out that it is expected to benefit from the USA interest rate cut in the second half of the year
Wharf reic (01997) rose nearly 6%, reaching a high of 25.4 Hong Kong dollars, hitting a new high since May this year. As of the deadline for submission, it rose 5.83%, closing at 25.4 Hong Kong dollars, with a turnover of 0.129 billion Hong Kong dollars.
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