Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>UBS: New Budget Slightly Positive for Residential, Retail Sectors; LINK REIT (00823.HK) TP Dropped to $37.4
Recommend 17 Positive 22 Negative 9 |
||||
|
||||
|
UBS released a research report believing that the new Budget is slightly positive for the residential and retail sectors, and that the new policy will stimulate transactions at the low end of the market, benefiting developers with a higher exposure in New Territories and smaller unit sizes (e.g. KERRY PPT (00683.HK) and SHK PPT (00016.HK)). Meanwhile, the Hong Kong government announced a number of measures to retain local consumption, which is favorable for Hong Kong retail landlords such as LINK REIT (00823.HK) and SHK PPT (00016.HK). However, UBS observed that southbound investors have more than doubled their positions in Hong Kong developers since May. For non-mainland China centric companies such as CK ASSET (01113.HK) and HENDERSON LAND (00012.HK), the free float market capitalization holding positions of southbound investors reached 6% and 3% respectively. UBS believed that the Budget is slightly positive for specific developers (e.g. KERRY PPT and SHK PPT). Meanwhile, retail landlords (e.g. LINK REIT and SHK PPT) may also benefit. However, the broker dropped its target price on LINK REIT by 5% to $37.4 to reflect higher interest rate assumptions, and kept rating at Neutral as there is still no concrete timeline for the REIT connect. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
