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<Research>HSBC Research: HK Real Estate Fundamentals Improving; HENDERSON LAND/ SHK PPT the Key Beneficiaries of Mkt Recovery
Recommend 10 Positive 23 Negative 16 |
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According to a report from HSBC Global Research, the Hong Kong real estate and conglomerate sectors have demonstrated business resilience as expected, continuing to record moderate profit growth in 1H25. The fact that more companies have resumed dividend growth has confirmed the broker's view that the worst phase of the dividend cut cycle is over. In HSBC Global Research's opinion, the increased certainty of dividend growth and yield prospects may attract investors. However, Hong Kong real estate has not yet fully emerged from difficulties, as challenges, such as a short-term surge in office supply and changes in consumer behavior, remain. With more signs of housing market stabilization and the beginning of an interest rate cut cycle, however, the entire industry is expected to gradually address headwinds, which should be favorable for stock performance. HSBC Global Research believes that developers like HENDERSON LAND (00012.HK) and SHK PPT (00016.HK) may be key beneficiaries of the housing market recovery cycle. It also expects WHARF REIC (01997.HK)'s and HYSAN DEV (00014.HK)'s mall portfolios to benefit from consumer growth driven by positive wealth effects and tourist visits. Meanwhile, new strategies by Hongkong Land and SWIREPROPERTIES (01972.HK) appear to be driving a revaluation. HSBC Global Research's ratings and target prices for Hong Kong developers are available on a separate table. AAStocks Financial News |
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