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New World Development's "Tian Xi Tian Cullinan Sky" will release its first price list as early as next week, aiming to start sales in October.
New World Development (00016.HK) General Manager Hu Zhiyuan said that the "TianXi.Tian Cullinan Sky" will announce its first price list as early as next week, hoping to cover units of different intervals. Subsequently, demonstration units will be opened to the public for viewing, with the goal of going on sale in October. The first price list will be considered for sale through price lists and bidding. Hu Zhiyuan pointed out that the 0.5% interest rate cut in the United States was greater than the market expected, and banks in Hong Kong immediately followed suit to lower interest rates. This indicates that the interest rate reduction cycle has officially started. In addition, there is still room for interest rate cuts in the second half of the year, which will help reduce the market entry costs for users and investors, and is expected to stimulate market demand and trading. He continued to point out that this year's rent
Daiwa lists the sensitivity analysis of Hong Kong property stocks to profit impact from interest rate cuts (table).
Morgan Stanley released a report stating that about 60% of Hong Kong property stocks' loans are calculated based on floating interest rates. If the Hong Kong Interbank Offered Rate (HIBOR) drops by 100 basis points, it is expected to increase the average industry profit by approximately 5%. The bank provided a sensitivity analysis of the impact on Hong Kong property stocks' profit if the Hong Kong Interbank Offered Rate (HIBOR) drops by 100 basis points: Stock│Percentage of loans with floating interest rates last year│Savings in interest expenses forecast│Projected impact on profit New World Development (00017.HK)│56%│1.112 billion yuan│+31.1% Kerry Properties (00683.HK)│5%
"Dah Sing" Daiwa lists the favorite real estate stocks in Asia (including 3 Hong Kong stocks) (Table)
Morgan Stanley released a report listing the favorite real estate stocks in the Asia-Pacific region (including 3 Hong Kong stocks): Stock │ Investment Rating │ Target Price China Res Land (01109.HK) │ Shareholding │ HK$30 New World Development (00016.HK) │ Shareholding │ HK$102 Link REIT (00823.HK) │ Shareholding │ HK$41 Nippon Prologis REIT (3283.T) │ In line with the market │ ¥0.32 million Mitsubishi Estate Co. (8802.T) │ Shareholding │ ¥3,350 CapitaLand (CLI SP) │ Shareholding │ SGD3.7
The stock of Daiwa Securities (00016.HK) is expected to outperform the market with a probability of over 80% in the next 60 days.
Morgan Stanley's report states that the Federal Open Market Committee (FOMC) of the United States Federal Reserve has begun a rate-cutting cycle and will lower the federal funds rate by 50 basis points. The bank believes that New World Development (00016.HK) has a higher exposure to Hong Kong residential properties and is expected to benefit from the rate cut in the United States. The bank states that New World Development has a healthy debt ratio (18%) and estimates that for every 100 basis points rate cut, its earnings per share / dividend can increase by 4%. The current price of New World Development is discounted at 65% of its net asset value (NAV) and has a yield of 4.8%. The bank predicts that there is a probability of over 80% that New World Development will outperform the market in the next 60 days, with a target price of 102 yuan and a rating of.
Citi: Low interest rates are more bullish for hong kong property stocks than Singapore. Link REIT (00823.HK) and New World (00016.HK) are attractive.
Morgan Stanley believes that Hong Kong has unique advantages due to the decrease in US interest rates and the accelerated economic growth in the mainland. Even without mainland economic growth, the expected rate cut by the Federal Reserve is at historically low levels and provides a positive outlook for sustainable and high dividend Hong Kong property stocks. The bank expects Hong Kong property prices to rebound by 6% next year after a 8% decline this year. Although the affordability ratio of Hong Kong residences is currently at a historical high of 50%, assuming a mortgage interest rate of 3.2% next year, that ratio is expected to improve to 45%, and rental income deductions for property returns will also turn positive. On the other hand, the bank expects mortgage rates to decline.
New World (00016.HK) expects stable Mid-Autumn Festival crowds and business volume among the top 15 shopping malls year-on-year.
New World Development (00016.HK) stated that the footfall and sales of its 15 major shopping malls during the Mid-Autumn Festival and the following public holiday are expected to be stable year-on-year. Merchants anticipate a 5% annual growth, with an average consumer spending of approximately 400 to 600 yuan. Electrical appliance tenants expect a 10% increase in sales after the launch of new mobile phone models, while the sales of festive food mooncakes are expected to grow by about 5% as scheduled.
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