Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
HSI Surges 750+ Pts After Midday; HK Developers Lag Behind; NWD Once Hyped Up 6%
Recommend 15 Positive 32 Negative 11 |
||||
|
||||
|
The Hong Kong government has announced the Budget for the new fiscal year, raising the $100 property stamp duty rate threshold from $3 million to $4 million, effective immediately. The government will also closely monitor market situation and development, and roll out sites in a paced and orderly manner. Having learned from past experience that land shortage would constrain Hong Kong's development, the government has to persist with its work on planning and land creation, but the pace of rolling out sites to the market can be adjusted in the light of actual circumstances. In addition, the government will not roll out any commercial site for sale in the coming year and will consider rezoning some of the commercial sites into residential use. Hong Kong developers enjoyed a moderate rise across the board after midday, though their gains were still outpaced by the broader market. NEW WORLD DEV (00017.HK), which will announce this Friday (28th) its results for 1FH ended December 2024, surged after midday, once rising 6.2% to a peak of $4.77. It last traded at $4.71, up 4.9%, on a turnover of $118 million. KERRY PPT (00683.HK) also hiked 4%. It last traded at $16.56, on a turnover of $34.129 million. FE CONSORT INTL (00035.HK) gained 5%. HENDERSON LAND (00012.HK), SHK PPT (00016.HK), K. WAH INT'L (00173.HK), and SWIREPROPERTIES (01972.HK) inched up 0.9-1.4%. SINO LAND (00083.HK) and KOWLOON DEV (00034.HK) edged up 0.1-0.3%. MTR CORPORATION (00066.HK) and LAI SUN DEV (00488.HK) remained stable. Property agency MIDLAND HOLDING (01200.HK) stabilized after midday, last trading at $0.97. CK ASSET (01113.HK) bucked the trend by falling 1.3%. It was last at $33.7, on a turnover of $149 million. Underpinned by Chinese demand and heavyweight tech stocks, the HSI stretched its upswing to hit a three-year high of 23,790 at one point after midday. It last printed at 23,785, up 751 points or nearly 3.3%, with a turnover of $207.525 billion. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
