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Sun Hung Kai Co (00086.HK) repurchased 0.1 million shares at HKD 0.249 million on July 19th.
On July 19, 2024, Sun Hung Kai Co (00086.HK) announced that it will repurchase 100,000 shares at HKD 0.249 million, with a repurchase price of HKD 2.48-2.49 per share.
Open Source Securities: New World Development (00017) has both Hong Kong and mainland market layouts, with guaranteed profit space in the future. First, it is rated as a "buy".
Open Source Securities expects new world dev to have a net income attributable to shareholders of 1.08, 1.39, and 1.72 billion Hong Kong dollars for the fiscal years 2024-2026.
Market Chatter: Sun Hung Kai Properties Snags Kai Tak Residential Site
Sun Hung Kai Properties (HKG:0016) secured a residential site in Sha Tin, Hong Kong for HK$619 million, equating to HK$3,952 per buildable square foot, in line with market estimates, The Standard
Hong Kong property stocks are doing well. Wharf REIC (01997) rose 2.4%. The sector is short-term strong, but facing fundamental challenges.
Hong Kong property stocks rose in early trading, with Wharf Reic (01997) up 2.4%, Henderson Land (00012) up 2.45%, SHK PPT (00016) up 1.63%, New World Dev (00017), Hang Lung PPT (00101), Sino Land (00083) and others followed suit. The Tourism Board announced that the preliminary number of visitors to Hong Kong in June was 3.13 million, an increase of 14% from the same period last year. Cumulatively, there were about 21 million visitors to Hong Kong in the first half of this year, an increase of 64% compared to last year, with an average daily passenger volume of 0.116 million.
Market Chatter: Hong Kong Real Estate Developers Continue Sweetening Price Offerings to Drive Sales
Real estate developers in Hong Kong choose to continue sweetening their pricing to clear their excess inventory as interest rate reductions and a robust economic recovery continue to dampen demand, the South China Morning Post reported, citing analysts.
Furui: Bullish on the Hong Kong property market's recovery in the first half of the year. Sino Land (00083) and Sino Land (00016) are preferred developers.
Furui stated that the sales data of residential buildings in Hong Kong shows that the Hong Kong property market is recovering in the first half of the year, which is a bullish sign for developers.