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<Research>HSBC Research: Signs of Stabilization in HK Retail Mkt Emerge; WHARF REIC/ HYSAN DEV Favored
Recommend 6 Positive 13 Negative 4 |
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Hong Kong's retail sales value increased by 0.7% YoY in June, marking the second consecutive month of growth after a prolonged period of decline, according to a research report issued by HSBC Global Research. The positive wealth effect should provide some support to the market, but mall operators need to adapt to changing consumption patterns, and rental pressure will remain in the short term. Among Hong Kong landlords, the broker was bullish on WHARF REIC (01997.HK) and HYSAN DEV (00014.HK), both of which rated at Buy. While the overall retail landscape remained challenging, HSBC Global Research saw signs of improvement, including HANG LUNG PPT (00101.HK)'s 1H25 tenant sales falling 2% YoY, slightly outperforming the market, the report added. On the positive side, HANG LUNG PPT expected increased visitor arrivals to stabilize caterers' operations. The table below lists HSBC Global Research's target prices and ratings for the above two favored landlords: Stock | Rating | TP (HKD) WHARF REIC (01997.HK)| Buy| 30 HYSAN DEV (00014.HK)| Buy| 18.6 AAStocks Financial News Website: www.aastocks.com |
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