HLD MAR7 (HLD2703) News

Hong Kong is reportedly considering an expansion of its asset management tax reforms, potentially offering tax concessions to proprietary trading firms.

According to the UK’s Financial Times, Hong Kong is considering expanding the scope of its asset management tax reform to include performance-linked compensation at proprietary trading firms such as Jane Street and Citadel Securities under tax concessions, aiming to enhance its competitiveness as an international financial center and attract financial institutions and talent. Citing sources familiar with the matter, the report states that the Hong Kong government is contemplating amending the legislative draft to explicitly clarify that traders at proprietary trading firms qualify for these tax concessions. “Inland Revenue (Amendment) (Tax Concessions for Funds, Family Investment Holding Vehicles and Carried Interest) Bill 2026”

AASTOCKSAug 11 11:56

Hong Kong Market Close (08.07) | Hang Seng Index Gains 0.54%; Healthcare and PCB Stocks Strong Throughout the Day; Gold Mining Stocks All Rise

Hong Kong's three major equity indices opened lower but rebounded sharply today, with all three closing higher.

Zhitong FinanceAug 7 16:31

Foreign professionals are returning to Hong Kong in growing numbers, driving up rental prices and intensifying competition for international school places.

According to media reports, the recovery of Hong Kong's IPO market and the introduction of tax incentives for private equity funds and hedge funds have attracted a wave of foreign employees returning to Hong Kong.

Zhitong FinanceAug 7 15:15

Major Brokerage: Morgan Stanley Remains Bullish on Hong Kong Property Market, Prefers Henderson Land (00016.HK) Among Developers

Morgan Stanley issued a report noting that Sun Hung Kai Properties (00016.HK) saw its share price decline by 5% yesterday (the 6th), compared with a 1.6% drop in the Hang Seng Index, following media reports that mainland authorities have begun taxing proceeds from offshore insurance policies. The firm remains optimistic about Hong Kong’s property market and expects the decline in transaction volumes observed in July—attributable to cross-border capital controls—to be temporary. Early last month, the firm downgraded Sun Hung Kai Properties to 'in line with the market,' primarily due to the year-on-year gain in the Centaline City Leading Index having peaked, which could continue to exert pressure on developers. Sun Hung Kai Properties’ share price exhibits a high correlation with the year-on-year movement of the Centaline City Leading Index; the firm believes the index will continue to rise, albeit at a moderating pace.

AASTOCKSAug 7 11:37

UBS Group: If mainland China imposes tax on residential investment returns from Hong Kong, net yields are expected to fall to 1.8%, aligning with those of tier-one cities on the mainland.

UBS Group published a report indicating that mainland China’s imposition of a 20% tax on returns from Hong Kong insurance policies could slow demand from the insurance sector for office space. A greater risk is that this 20% tax might be extended to Hong Kong residential properties, affecting both rental income and capital gains. The report notes that the latest gross rental yield for Hong Kong residential properties is approximately 3.2%, while fixed mortgage rates (for 3- to 5-year terms) stand at 2.73%. However, after deducting management fees, rates, and property tax, net rental yields typically fall to around 2.2%. If mainland authorities impose a 20% tax on offshore property investment income—similar to the treatment of insurance returns—mainland investors’ net rental returns would likely decline further.

AASTOCKSAug 7 11:04

HENDERSON LAND: DATE OF BOARD MEETING

HKEXAug 6 17:08

New Launch: Henderson Land (00012.HK) names its Kwu Tung North project 'Metropolis Cove,' comprising 682 units, expected to launch sales in early next month.

Henderson Land (00012.HK) has officially named its Kwu Tung North project “North Innovale.” The development has received its pre-sale consent and comprises 682 residential units, with sales launching in early next month. Mr. Lam Tat-man, Director of Hende Property Agency Limited and General Manager of Sales Division I, stated that North Innovale, located in Kwu Tung North, benefits from a triple advantage of transportation connectivity, industrial ecosystem, and supportive government policies, positioning it as an ideal residential choice for international innovation and technology professionals and specialists.

AASTOCKSAug 5 14:53

According to reports, Henderson Land (00012.HK) has raised its offer by 80% to acquire the remaining four units of the Robinson Road site, successfully consolidating ownership after eight years.

According to Hong Kong 01, Henderson Land (00012.HK) has successfully consolidated ownership of the final four units within its acquisition site at Nos. 88–100 Robinson Road in Mid-Levels West, having significantly increased its offer by 80% to HK$180 million. This marks the completion of an approximately eight-year acquisition process without resorting to compulsory sale proceedings. The four recently acquired units are located at Nos. 90–92 Robinson Road, in Lai Cheung Building. Each unit is a spacious residence with a saleable area ranging from 1,673 to 1,688 square feet and includes one parking space, all transacted at a uniform price of HK$45 million.

AASTOCKSAug 4 10:02

Jingluo: Hong Kong's July mortgage registrations for completed properties fell 22.9% month-on-month, hitting a three-month low.

According to data from King Lun Mortgage Referral Research Department and the Land Registry of Hong Kong, the number of completed property mortgage registrations in July this year totaled 6,927, down by 2,056 or 22.9% month-over-month, marking the second consecutive monthly decline and reaching a three-month low.

Zhitong FinanceAug 3 14:08

《Major Brokerage》Morgan Stanley: Henderson Land (00012.HK) likely to see earnings recovery in H1; maintains 'Overweight' rating with target price of HK$31

Henderson Land Development Company Limited (00012.HK) is set to announce its interim results. Morgan Stanley, in a research report, expects the company’s interim profit to be approximately HK$3.9 billion, representing a 27% year-over-year increase, primarily driven by sales from the high-margin redevelopment project 'The Tonno' at Belle Vue in Mid-Levels West and rental income from The Henderson, a Grade A office building in Central. The firm anticipates an interim dividend of HK$0.5 per share, unchanged from the prior period, with a full-year dividend forecast of HK$1.26 per share, implying a sustainable dividend yield of 4.6%. Morgan Stanley notes that Henderson Land’s progress in converting agricultural land use rights could accelerate, providing support to second-half earnings per share and cash flows, and helping reduce leverage. June

AASTOCKSJul 27 13:54

New Launch: MIAMI QUAY I in Kai Tak Reopens with 79 Additional Units, Starting Price HK$5.665 Million after Discounts

Wheelock & Co., in partnership with Henderson Land (00012.HK), New World Development (00017.HK), and Empire Group, launched an additional 79 units yesterday (22nd) at Miami Quay I in Kai Tak. The units are offered at a discounted starting price of HK$5.665 million, with a discounted average price of HK$23,866 per sq ft. On the same day, the developer announced sales arrangements: 36 units from the price list will be sold on Sunday, and four units will be offered via tender. The newly launched units range in size from 250 to 329 sq ft, comprising open-plan to one-bedroom layouts, with listed prices ranging from HK$6.437 million to HK$9.673 million and price per sq ft ranging from HK$24,549 to HK$29,400.

AASTOCKSJul 23 15:01

The occupancy rate of Cheung Kong Centre Phase II is reported to have risen to 60%, and is expected to reach at least 75% by year-end.

According to sources cited by Bloomberg, CK Asset Holdings (01113.HK) has seen the occupancy rate of its newly completed Two Pacific Place in Central—delivered in 2024—double to approximately 60% since the beginning of this year, benefiting from an economic upturn that has prompted financial firms to upgrade and expand their office space. One of the sources indicated that CK Asset Holdings expects the building’s stabilized occupancy rate to reach at least 75%. The rising occupancy reflects the recovery of Hong Kong’s commercial property market. The 41-story tower was completed two years ago during the city’s most severe downturn, when only about 10% of its floor area had been leased. According to JLL data, Grade A office rents in Central...

AASTOCKSJul 21 11:27

HSBC Research: Hong Kong property stocks show improving fundamentals; initiates 'Buy' ratings on Hysan Development (00014.HK) and Swire Properties (01972.HK)

HSBC Research issued a report noting that the fundamentals of Hong Kong’s property and conglomerate sector are improving, supported by stronger property sales, stabilizing rental income, asset monetization activities, and lower borrowing costs. The firm expects sector earnings to improve year-on-year, extending the recovery momentum. HSBC Research highlighted that all 138 units in the first batch of Sun Hung Kai Properties’ (00016.HK) Yuen Long project 'The Regency' were sold out over the past weekend, reflecting resilient owner-occupier demand. However, it anticipates that near-term residential transaction volumes will remain subdued, which could weigh on market sentiment. HSBC Research believes that property stocks’ dividends per share are likely to increase, alongside expected growth in rents from premium shopping malls and residential sales margins.

AASTOCKSJul 21 10:48

Henderson Land Development (0012.HK): Sales Recovery Drives Profit Rebound; A Well-Positioned New Territories Landlord Sees Long-Term Growth Potential

Property Development: Benefiting from the recovery in Hong Kong's property market, sales have risen markedly, and profitability is expected to improve going forward. In 2025, the company's contracted sales are projected at HK$21.15 billion, up 44.2% year over year, with HK$19.27 billion attributable to Hong Kong.

Caitong SecuritiesJul 21 00:00

Henderson Land (00012.HK) Unifies Ownership of Final Cluster of Old Buildings on Whampoa Street in Hung Hom for HK$580 Million, Completing Acquisition for Belgravia Square Project

Yesterday (the 16th), a row of old buildings on Hung Hom’s Whampoa Street acquired by Henderson Land (00012.HK) underwent a compulsory sale auction and was successfully consolidated under single ownership at the reserve price of HK$580 million. This marks the first case to achieve unified ownership under the revised compulsory sale regime introduced in 2024 following the relaxation of the threshold requirements. The long-anticipated redevelopment plan for the Pak Ka Pho area along Whampoa Street in Hung Hom has finally completed its acquisition process after 16 years. According to available data, the application covered two lots: the old buildings at Nos. 18 to 20A Whampoa Street, and the old buildings at Nos. 22, 22A, and 24 Whampoa Street in Hung Hom, together with Nos. 88, 90, and 90A Pak Ka Street. Among these, the old buildings at Nos. 18 to 20A Whampoa Street, in the application

AASTOCKSJul 17 13:33

Major Broker: JPMorgan's Investment Ratings and Target Prices for Hong Kong Property Stocks (Table)

JPMorgan has published a research report listing the investment ratings and target prices for Hong Kong property stocks as follows: Stock | Investment Rating | Target Price (HKD) CK Asset Holdings (01113.HK) | Overweight | HK$52 Henderson Land (00012.HK) | Neutral | HK$27 New World Development (00017.HK) | Neutral | HK$6.8 Sun Hung Kai Properties (00083.HK) | Overweight | HK$12.5 Sun Hung Kai Properties (00016.HK) | Overweight | HK$140 Hang Lung Properties (00101.HK) | Overweight | HK$12 Swire Properties (0

AASTOCKSJul 17 11:11

JPMorgan: Property stocks have entered an earnings upcycle; near-term visibility for developers remains lower than that for rental-income-focused property firms.

JPMorgan Chase released a report stating that, following a two- to three-year earnings downturn cycle, the property sector is poised to enter a multi-year earnings upcycle, driven by improving profit margins on Hong Kong property developments, stabilizing rental income in certain segments, and lower financing costs. The bank expects that results announcements—mostly interim results but including some full-year reports—scheduled between July and November will mark the beginning of this upcycle, with core net profit projected to grow by 9% year-over-year and dividends per share expected to increase by 2–3% annually. In the near term, however, the sector is likely to remain highly sensitive to rapidly shifting market narratives around interest rate trajectories. In its stock selection strategy,

AASTOCKSJul 17 11:11

Morgan Stanley expects Henderson Land (00012.HK) to outperform the market over the next 60 days, maintaining an 'Overweight' rating.

Morgan Stanley issued a report noting that it expects Henderson Land (00012.HK) to announce its interim results for the first half of 2026 in late August. Supported by the recognition of high-margin projects such as 'The Legacy'—the redevelopment project at Mei Li Tai in Mid-Levels West—and additional rental contributions from the new premium-grade office tower 'The Henderson' in Central, the firm forecasts Henderson Land’s underlying profit to increase by 27% year-over-year. Additionally, the bank expects the interim dividend per share to remain at HK$0.50, with a full-year dividend per share of HK$1.30, implying a dividend yield of 4.8%. The report noted that progress on Henderson Land’s agricultural land resumption may be addressed in the

AASTOCKSJul 17 10:22

Centaline: First-hand private residential property transactions in Hong Kong totaled 12,459 units in the first half of the year, with a total value exceeding HK$150 billion.

In the first half of the year, Hong Kong recorded 12,459 primary market transactions for private residential properties, with a total value of HK$150.698 billion.

Zhitong FinanceJul 15 21:16

Hong Kong Stocks: Hang Seng Index closed up 340 points; Meituan surged over 5%, local property stocks rose, and MINIMAX gained more than 13%.

Overnight (14th), the three major U.S. stock indices closed higher, supported by softer-than-expected U.S. inflation data and a rebound in semiconductor stocks. This morning (15th), the Hang Seng Index opened 210 points higher, with gains widening during the session to reach an intraday high of 24,774, up 434 points. It closed at 24,681, up 340 points or 1.4%, with total market turnover reaching HK$304.297 billion. The Hang Seng Tech Index closed at 4,740, up 61 points or 1.3%. The Hang Seng China Enterprises Index ended at 8,184, up 81 points or 1%. Leading internet and tech stocks generally advanced, with Meituan-W (03690.HK) showing strong performance, closing at HK$8

AASTOCKSJul 15 16:42