Re: HK - Housing
Posted: Mon Jan 03, 2011 10:02 am
Not vested
DJ MARKET TALK: Stay Away From HK Developer Stks - UOB KayHian
0902 [Dow Jones] UOB KayHian notes HK property stocks fell 14% as a knee-jerk reaction to November's tightening measures by HK government, but has since been crawling gradually back up 6%, with individual stocks trading 8%-22% below November highs.
"The share price resilience reflects the general view that there is little downside on property prices from here in the near term, a view we concur with."
The house says with the government's determination to curb runaway prices, it is only apt to assign a higher risk premium to the sector, which means upside to stock prices could still be capped even if home prices resume its uptrend again.
At the current levels, UOB doesn't recommend exposure in the sector; due to their outperformance, SHK Properties (0016.HK) and Hang Lung Properties (0101.HK) are the house's 2 top Sells.
Source: Dow Jones Newswire
DJ MARKET TALK: Stay Away From HK Developer Stks - UOB KayHian
0902 [Dow Jones] UOB KayHian notes HK property stocks fell 14% as a knee-jerk reaction to November's tightening measures by HK government, but has since been crawling gradually back up 6%, with individual stocks trading 8%-22% below November highs.
"The share price resilience reflects the general view that there is little downside on property prices from here in the near term, a view we concur with."
The house says with the government's determination to curb runaway prices, it is only apt to assign a higher risk premium to the sector, which means upside to stock prices could still be capped even if home prices resume its uptrend again.
At the current levels, UOB doesn't recommend exposure in the sector; due to their outperformance, SHK Properties (0016.HK) and Hang Lung Properties (0101.HK) are the house's 2 top Sells.
Source: Dow Jones Newswire