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<Research>M Stanley Views HK Forecast-Beating Retail Sales for Oct as Tailwind for WHARF REIC & HYSAN DEV
Recommend 13 Positive 20 Negative 8 |
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According to Morgan Stanley's research report, Hong Kong's retail sales grew by 6.9% YoY to HKD35.2 billion in October, beating both the broker's and the market's expectations, primarily driven by durable goods, online sales, and inbound tourism. Specifically, online sales soared by 27% YoY or 32% MoM to HKD5.2 billion, accounting for a record 14.6% of total sales. Morgan Stanley viewed these figures as a boon for WHARF REIC (01997.HK) and HYSAN DEV (00014.HK), which have grown by 10% and 21% respectively over the past three months. The broker also highlighted that retail stocks such as LINK REIT (00823.HK), HYSAN DEV, and WHARF REIC have the advantage of high dividend yields. If retail sales continue to improve, their stock prices may have upward potential. AAStocks Financial News |
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