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<Research>G Sachs: HK Budget Positively Oriented Towards Property Mkt; SHKP/ HLD/ SINO Favored
Recommend 8 Positive 7 Negative 6 |
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As Goldman Sachs expected, the Hong Kong government did not announce in the Budget any major stimulus measures targeting the residential market, the broker said in a research report. This market has bottomed out since mid-2025, but the tone was broadly more positive. On the back of active capital market activities and economic recovery, stamp duty and corporate tax revenues exceeded expectations. Coupled with continued control of fiscal expenditure, the fiscal surplus for FY2025/26 has been revised to a surplus of HKD2.9 billion. Although no major stimulus measures were announced for the residential market, the broker believed that better economic prospects, supportive talent visa/immigration policies, along with resuming land sales at relatively low prices, should bode well for future market sentiment and developers' profitability recovery. The broker remained optimistic about the Hong Kong residential market and highlighted its recommendations. Goldman Sachs gave a Buy rating to SHK PPT (00016.HK), HENDERSON LAND (00012.HK), and SINO LAND (00083.HK). AASTOCKS Financial News Website: www.aastocks.com |
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