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<Research>UBS Survey Reveals Improved Confidence Among HK Households; HENDERSON LAND/ SHK PPT/ PCCW/ CKI HOLDINGS/ CATHAY PAC AIR/ SANDS CHINA LTD/ BOC AVIATION Preferred
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Positive
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UBS cited its Evidence Lab survey in its report indicating that surveyed Hong Kong households felt positive about this year overall with lifted confidence in household income, job stability, and the economic outlook of Hong Kong.

There was also a rise in investment interest across different asset classes as shown by the survey, even though only a minority of respondents indicated they would increase spending, particularly on essentials.

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As for the Hong Kong stock market, despite improved investment sentiment among Hong Kong households, the market's performance this year is still expected to be contingent on US interest rates, US tariff scope, and policy support from the Mainland.

UBS' investment ratings and target prices for preferred Hong Kong stocks are listed as follows:

Stock | Investment Rating | Target Price
HENDERSON LAND (00012.HK) | Buy | $26
SHK PPT (00016.HK) | Buy | $90
PCCW (00008.HK) | Buy | $5
CKI HOLDINGS (01038.HK) | Buy | $73
CATHAY PAC AIR (00293.HK) | Buy | $12.1
SANDS CHINA LTD (01928.HK) | Buy (Key Call Buy) | $24.8
BOC AVIATION (02588.HK) | Buy | $77.9

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UBS' investment ratings and target prices for least preferred Hong Kong stocks are listed as follows:

Stock | Investment Rating | Target Price
MTR CORPORATION (00066.HK) | Sell | $21.6
LINK REIT (00823.HK) | Neutral | $39.4
WHARF REIC (01997.HK) | Neutral | $20
CK ASSET (01113.HK) | Neutral | $31
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