New World Development's large transaction rose nearly 11%, reaching a more than one-year high. The Rosewood Hotel under the company denies the sale

New World Development (00017.HK) opened slightly lower by 0.1% this morning (17th) but then rose, reaching a high of HKD 9.5, an increase of 15.4%, marking a more than one-year high. In the afternoon, it was last reported at HKD 9.12, up 10.81%, with trading volume increasing over 2.8 times compared to the previous day to 43.4327 million shares, involving HKD 393 million.

On the news front, there have been recent market rumors that Marriott International intends to strategically acquire the Rosewood Hotel Group, a subsidiary of New World’s parent company Chow Tai Fook Enterprises. It is reported that Marriott has internally named this potential acquisition project the "Pegasus Project." In response, Marriott International stated that it would not comment on rumors or speculation regarding mergers or other transactions. Rosewood Hotels responded that the Rosewood Hotel Group and its brands are not for sale, and all hotels are operating as usual.

It is noteworthy that recently, Morningstar released a research report raising the fair value of New World Development, pointing out that the company's recent asset disposal progress is better than expected, and its core leasing business is performing steadily, supporting the valuation increase. The agency noted that the trends in Hong Kong interest rates and changes in property market policies remain key variables going forward.

Bank of America Securities recently stated that the Hong Kong residential market has indeed bottomed out by mid-2025, and it expects a stronger recovery in 2026, extending to core business district (CBD) offices and high-end retail sectors. Morgan Stanley anticipates that Hong Kong residential property prices will rise by 10% this year due to increased demand from mainland buyers, inventory consumption, limited supply, and declining interest rates