The duty-free allowance for mainland Chinese tourists visiting Hong Kong and Macau for shopping increased from RMB5,000 to RMB12,000, with effect from 1 July, which is basically in line with HSBC Global Research's expectation on the direction of policy support, HSBC Global Research issued a research report saying.
HSBC Global Research believed that more favorable measures will be introduced successively to stabilize the retail market.
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Among the retail landlords, HSBC Global Research preferred WHARF REIC (01997.HK) -0.050 (-0.242%) Short selling $1.37M; Ratio 5.126% and LINK REIT (00823.HK) -0.350 (-1.153%) Short selling $8.97M; Ratio 21.385% , and believed that LINK REIT is one of the few REITs that may resume DPU from FY2025. Therefore, the broker rated LINK REIT at Buy, with a target price of $45.
HSBC Global Research also believed that WHARF REIC may resume profit growth in the next few years, and rated it at Buy, with a target price of $36.6.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-28 12:25.)
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