Quick Note: 1M HIBOR Decline by 300bps – Implications for Hong Kong Real Estate
HK's 1M HIBOR sharply declined for 300bps to c. 0.6%, on the back of increasing liquidity of HKMA. We think the drop in interbank rate will reduce...
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Turning Bearish: Hang Lung Properties Going Through a Perfect Storm
We think HLP is facing a perfect storm with China's economic slowdown, weaker luxury spending, and negative wealth effect from home price decline. ...
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COLI (688 HK): The Best Beta Play for China
Based on 1) SOE with no bankruptcy risk, 2) bond issuance at historical low coupon (1.80% for 5yr) and (2.37% for 10yr), and 3) historical low...
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China Prop Short Note: Turning Bullish on “lower Rates for Longer” & Improving Sector Fundamentals
We turn bullish on China property, on the back of several structural tailwinds: rates lower for longer to improve mortgage rate and funding cost,...
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Seeking Value and Safety in HK/China: SHKP 16 HK
MSCI has ralied 19% YTD, we think it makes sense to re-visit Hong Kong and China again. Sun Hung Kai Properties, the largest real estate company...
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