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<Research>M Stanley Predicts HK Unemployment Rate to Rise Above 4% by Yr-end; Retail Sales Pressure Impacts LINK REIT/ WHARF REIC
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Hong Kong's unemployment rate rose by 0.2 ppts to 3.9% in July-September from the previous three months, logging a 3-year new high, with higher unemployment rates in industries such as construction (7.2%) and retail (5.3%), Morgan Stanley released a research report saying. The broker believed that, due to macroeconomic uncertainties and structural challenges in the catering and retail sectors, the overall unemployment rate may further rise, exceeding 4% by the end of 2025. Despite recent positive trends in retail sales, the rising unemployment rate may affect consumption sentiment. The YoY growth rate of retail sales in September may slow to 2%. With retail sales under pressure and office vacancy rates remaining high, LINK REIT (00823.HK) and WHARF REIC (01997.HK) may be negatively impacted. AASTOCKS Financial News Website: www.aastocks.com |
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