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Invesco Ltd: Form 8.3 - International Paper Company; Public Dealing Disclosure
Invesco: The chances of default by Hong Kong developers may increase in 2026.
Invesco Asia-Pacific fixed income head, Huang Jiacheng, said that the situation of local developers defaulting may increase in 2026. He mentioned that many developers have heavy debt burdens while the value of their properties is declining. Additionally, there is a significant amount of land reserves in mainland China. Unless the Hong Kong government implements stimulus measures, the chance of industry defaults will rise. He also pointed out that the Hong Kong bond market is insufficient to support the financing needs of all local developers. With an oversupply in the local property market, the real estate industry may experience a round of adjustment. Faced with the opportunity of further decline in Hong Kong property prices, developers will accelerate the pace of asset sales. However, Huang Jiacheng stated that the debt of individual local developers.
CORRECTION: Invesco Ltd: Form 8.3 - Anglogold Ashanti PLC ; Opening Position Disclosure
Invesco expects the European Central Bank to cut interest rates by another 25 basis points before the end of the year.
Invesco Asia-Pacific (excluding Japan) global market strategist Zhao Yaoting stated that the European Central Bank announced a cut in the deposit rate by 25 basis points to 3.5%, which is in line with market expectations. Due to weak internal demand in the European market, the European Central Bank only slightly raised the core inflation forecast for 2024 by 0.1 percentage points to 2.9%, while slightly lowering the GDP forecast for this year to 0.8%. Looking ahead, Invesco will continue to monitor the service industry and inflation rates within the European market, as the relevant data remain high. Zhao Yaoting still expects that with the continuous slowdown in wage growth and pressure on profits, the European Central Bank will cut interest rates again by the end of the year by another 25 basis points.
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