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<Research>Jefferies: Inclusion of Luxury Home for Investment Immigration, LTV Relaxation Mildly Positive to Developers w/ SHKP/ KERRY PPT Benefiting More
Recommend 12 Positive 20 Negative 9 |
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Chief Executive John Lee delivered his third Policy Address today (16th), in which he proposed to relax the maximum loan-to-value ratio (LTV) for residential and non-residential properties to 70%, as well as allowing applicants of the New Capital Investment Entrant Scheme to invest in luxury homes with a transaction price of $50 million or above, Jefferies released a research report saying. The abovementioned measures are mildly positive to Hong Kong property developers, with SHK PPT (00016.HK) and KERRY PPT (00683.HK) likely to benefit more, Jefferies added. For Hong Kong banks, the relaxation of non-residential LTV may delay the pressure for them to recognize losses in Hong Kong's commercial real estate. However, the broker believed that structural problem remains. Therefore, the broker rated SHK PPT at Buy, with a target price of $91. AAStocks Financial News |
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