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<Research>UBS: HK Retail Sector to Benefit Directly from Trial Run of Southbound Travel for Guangdong Vehicles
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The Hong Kong government announced that the policy of Southbound Travel for Guangdong Vehicles will be first implemented on a trial basis with 100 daily booking quotas, according to UBS' research report. As Guangdong vehicles will enter Hong Kong via the Hong Kong-Zhuhai-Macao Bridge (HZMB), it is expected that the policy is mainly targeted at residents in the western part of the Greater Bay Area, including Zhuhai and Zhongshan, and it is believed that this will introduce new tourist sources to Hong Kong. With reference to the fact that one out of every five Hong Kong vehicles going on northbound travel has already participated in the scheme, the broker estimated that the demand for southbound traffic may be equally strong. UBS also believed that Hong Kong's retail sector will benefit directly from the implementation of the policy, which is anticipated to favor Hong Kong's retail homebuilders like WHARF REIC (01997.HK) and SHK PPT (00016.HK). AAStocks Financial News Website: www.aastocks.com |
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