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<Research>G Sachs Expects HK Developers to Weaken as HIBOR Returns to Forecast Level
Recommend 5 Positive 25 Negative 6 |
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The HIBOR rebounded to 2% yesterday (18th), marking the first time since early May, Goldman Sachs wrote in its research report. The banking system's aggregate balance has dropped from a peak of HKD177 billion to HKD53 billion, compared to HKD44 billion before the liquidity influx, a situation in line with the broker's expectations. While Hong Kong developers outpaced the HSI during the period of low HIBOR, they are estimated to go through a period of weakness with the HIBOR returning to the forecast level and Hong Kong's floating-rate mortgages being repriced to the P-rate cap of 3.5%. Stock | Investment Rating | Target Price (HKD) CK ASSET (01113.HK) | Buy | 48 SHK PPT (00016.HK) | Buy | 104 NEW WORLD DEV (00017.HK) | Neutral | 5.5 HENDERSON LAND (00012.HK) | Sell | 19.6 SINO LAND (00083.HK) | Sell | 7.9 KERRY PPT (00683.HK) | Neutral | 20.6 AAStocks Financial News |
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