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<Research>HSBC Research: Potential Resumption of Positive Cost of Carry May Help Stabilize Property Mkt; Property Prices Expected to Rise by 5% in 2025
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Investors are focusing on companies that have the potential for earnings recovery and possible shift in their business strategies, HSBC Global Research issued a research report saying. As residential rents rise, a potential resumption of positive cost of carry will favor demand for home purchase, and may help stabilize the property market in an unfavorable economic environment. The broker expected property prices to stabilize in 2H24 and grow by 5% in 2025, noting that the home prices have fallen by 6% YTD and have risen moderately for the past 5 consecutive weeks. HSBC Global Research was optimistic about SHK PPT (00016.HK)/ KERRY PPT (00683.HK) among developers, with target prices of $116/ $19.6 each, with both rated at Buy. The broker believed that SHK PPT is one of the major beneficiaries of the property market recovery, while KERRY PPT delivered a good earnings recovery due to a better outlook for its high-end residential projects. As for CK ASSET (01113.HK), HSBC Global Research believed that the Group may surprise investors, with a target price of $44.6 and rating at Buy, amid lower sales and dividend outlook anticipations. AAStocks Financial News |
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