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<Research>UOB Kay Hian: CN, HK Home Mkts Need Further Policy Support; Top Picks CR Land, SHKP, LINK
Recommend 19 Positive 28 Negative 24 |
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UOB Kay Hian released a report, stating that property sales in both China and Hong Kong tapered off during the Spring Festival. Another important Spring Festival-related development was the management change at CHINA VANKE (02202.HK), which the broker believed will not eliminate the risks facing Vanke due to the financial constraints of Shenzhen Metro Group. Hong Kong's tourist growth during the Spring Festival was low. UOB Kay Hian assumed that further policy support is needed and is possible. The broker maintained its respective sector ratings: Chinese property developers were rated Overweight; Hong Kong property developers Equalweight; and Hong Kong landlords Underweight. Top picks were CHINA RES LAND (01109.HK), SHK PPT (00016.HK) and LINK REIT (00823.HK). AAStocks Financial News |
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