"Hong Kong stock" Hang Seng Index rose 16 points, household appliances and heavy equipment stocks rose sharply, and East Buy selection fell 23%.
The US economy grew more than expected last quarter. The Dow rose 81 points or 0.2% on the evening of the 25th, and the Hong Kong stock market rebounded with the external trend. The Hang Seng Index opened high by 74 points, rose 224 points in the early stage to 17,229 points, and then fell back. It once fell 80 points to 16,924 points, rose 16 points or 0.1% in the whole day, and closed at 17,021 points. The HSI Tech Index rose 22 points or 0.7%, and closed at 3,443 points. The total turnover of the market for the whole day was 104.67 billion yuan, and the net inflow of southbound transactions of Shanghai, Shenzhen and Hong Kong stock connect was 5.791 billion and 4 billion yuan respectively.
Bank of America Securities upgraded New World Development (00016.HK) to a "buy" rating with a target price lowered to HKD 84.
Bank of America Securities has released a report, raising its rating for Sun Hung Kai Properties (00016.HK) from "neutral" to "buy", stating that if the United States begins to cut interest rates, Sun Hung Kai Properties will become the developer most likely to benefit from the potential rebound in Hong Kong's residential market. Although interest rate cuts are not a panacea, the bank believes that Sun Hung Kai Properties' stock price has not yet reflected the potential interest rate cuts in the United States. The bank predicts that Sun Hung Kai Properties' dividend per share will rebound 5% in the 2025 fiscal year after falling 23% in the 2024 fiscal year. In addition, the bank believes that Sun Hung Kai Properties' property development projects in Hong Kong are profitable at a more sustainable level. Catalysts include the upcoming launch of "The Cullinan - Sky" in Kai Tak. Bank of America Securities on Sun Hung Kai Properties
Report: As of the end of June, the vacancy rate for Grade A office buildings in Hong Kong has risen to 13.6%.
Jones Lang LaSalle reported that the vacancy rate of Grade A offices in Central rose to 12.1% by the end of June, mainly driven by the impact of newly completed office buildings.
Sun Hung Kai Properties (00016.HK) purchased the land in Beibu, Fanling for 520 million yuan.
Local media reported that New Territories (00016.HK) previously replaced the site in Fanling North District 10 through a replacement site. The government estimated the construction cost of about $0.27 billion for the construction of a large public rest area and public transport interchange in accordance with the agreement. The government estimates that construction costs of about $0.27 billion will be available for developers in the first phase of the renovation. The floor is calculated at 0.308 million square feet, which is approximately $2,500 per sq. ft. Shinji said it was pleased to finalise the first land swap agreement with the Government under the “Enhanced Traditional New Town Development Model”. The new agreement is expected to help accelerate the development of the northern metropolitan area. It's the second
SHK PPT expects a 15% increase in revenue at six major shopping centers during the Olympics.
On July 24th, SHK PPT (0016.HK) will link up with its six major shopping malls, Shenzhen New Land Tool Planning & Architectural Design Square, YOHO MALL SHAPE, MOKO New Century Plaza, New Metropolis Plaza, Tsuen Wan Plaza and Sisha GO PARK, to broadcast Olympic focus events on large TV screens throughout the venue starting this Saturday (27th). Zhou Shuwen, general manager of the new land agency leasing department, expects that under the continuous promotion experience, it can further stimulate customers to come and consume, and expect to drive the overall flow of people and business volume of the mall by about 15%. In addition, multiple shopping malls have launched sports-themed fabrics during the summer vacation and the Olympic Games.
In Hong Kong Property, CHINA YUAN expects a seasonal increase of 313 units in the remaining inventory of the new first-hand residential properties in the next quarter, and expects to maintain a level of over 0.02 million units for the year.
CENTALINE Property has released statistics on the sales of newly launched first-hand private residences in the second quarter. Out of the selected 350 new projects, there are a total of 131,455 units, of which 109,617 have been sold upon registration, leaving 21,676 unsold units. There has been an increase of 313 unsold units, with a slight rise of 1.5%. The percentage of unsold units in Q2 dropped by 0.3% to 16.5%. Although the number of unsold units and their percentage remained stable, they were still the second-highest since Q4 2003 (22,485 units) and the third-highest since Q4 2013 (17.3%). According to regional statistics, Kowloon recorded an increase of 383 unsold units due to the launch of several large-scale new projects.