Financial News
Written by: Huang Youhua
2020-05-05 11:40
Last update date: 2020-05-05 11:40The New Coronary Pneumonia epidemic weighed on Hong Kong's retail and consumer performance. The government announced that February's retail sales fell 44% year-on-year. However, Citi reported that if the epidemic situation in Hong Kong and the Mainland could continue to improve, Hong Kong's property prices and retail market may have bottomed out in April.
The bank also expects that property prices in Hong Kong may rise by about 5% to 10% by the end of the year, and that this month property prices will resume their upward trend. It is also said that if the epidemic continues to improve, it is expected that the travel restrictions between Hong Kong and the Mainland will be further relaxed in early June.
Citi pointed out that given that the retail industry should start to improve this month, it is now a good time to buy retail rental stocks, and its valuation is attractive. Citigroup is optimistic about Xindi (0016) and New World (0017) among many real estate developers. At the same time, we also look at the retail rent-collecting stocks of Hang Lung Properties (0101), Wharf Real Estate (1997) and Hysan Development (0014).
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Citigroup Citigroup Hong Kong property price retail stocks Wharf Real Estate Hang Lung Properties Xindi New World Hysan