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HK Developers Prosper on Higher Hope for US Rate Cut
Recommend 43 Positive 67 Negative 36 |
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US core inflation in June sank to its lowest point in more than three years, underpinning the Federal Reserve’s potential rate cut later this year. In the face of rising expectations of a US rate cut, Hong Kong property developers had a good run. HENDERSON LAND (00012.HK) last posted at $23.3, up 7.13%, with 2.7675 million shares traded, involving $63.4344 million. SHK PPT (00016.HK) and HANG LUNG PPT (00101.HK) each spiked 4.9% and 4.6%. In addition, WHARF HOLDINGS (00004.HK), CK ASSET (01113.HK), NEW WORLD DEV (00017.HK), SWIREPROPERTIES (01972.HK) and FE CONSORT INTL (00035.HK) soared 3.5%-3.7%. SINO LAND (00083.HK) also leaped more than 2%. As for the REITs, LINK REIT (00823.HK) last stood at $32.7, up 5.14%, with 5.4103 million shares traded, involving $176 million. Chinese property developers were also speculated. SHIMAO GROUP (00813.HK) last printed at $0.82, up 17.14%, with 100 million shares traded, involving $80.6349 million. SUNAC (01918.HK), CIFI HOLD GP (00884.HK) and CHINA VANKE (02202.HK) each surged about 8%. CHINA JINMAO (00817.HK), CHINA OVERSEAS (00688.HK), CHINA RES LAND (01109.HK), R&F PROPERTIES (02777.HK) and POLY PROPERTY (00119.HK) shot up 3.5%-6.2%. AAStocks Financial News |
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