Real estate stocks perform well, New World Development rises over 50% to reach a four-and-a-half-year high

Hong Kong real estate stocks generally performed well this morning. Sun Hung Kai Properties (00016.HK) opened up 1.83% today, reaching a high of HKD 121. It is currently reported at HKD 120.4, up 5.15%, hitting a four-and-a-half-year high, with a trading volume of 4.341 million shares, involving HKD 514 million. Sun Hung Kai's recent new project sales have been ideal, with the second phase of West Bay 2B, Sierra Sea, launching 90 units over the past weekend, and confirming a public sale of 165 units this Wednesday, along with 21 units to be sold via tender.

CK Asset (01113.HK) opened up 0.64% today, reaching a high of HKD 45.74. It is currently reported at HKD 45.74, up 4%, hitting a two-and-a-half-year high, with a trading volume of 2.9235 million shares, involving HKD 131 million.

Hang Lung Properties (00101.HK) opened flat today, reaching a high of HKD 9.68. It is currently reported at HKD 9.67, up 4.88%, with a trading volume of 3.9519 million shares, involving HKD 37.3968 million.

New World Development (00017.HK) opened flat today, reaching a high of HKD 9.78. It is currently reported at HKD 9.78, up 3.82%, with a trading volume of 4.7333 million shares, involving HKD 45.558 million.

Henderson Land (00012.HK) opened down 0.66% today, reaching a low of HKD 29.1. It is currently reported at HKD 30.08, down 0.4%, with a trading volume of 5.8465 million shares, involving HKD 173 million.

Citigroup published a research report indicating that, based on investor feedback, they hold a positive attitude towards Hong Kong real estate, with the priority order by industry classification being real estate developers > Central office buildings > luxury retail; while the non-essential retail sector has been disappointing. They are optimistic about Sun Hung Kai Properties, Hongkong Land, Hang Lung Properties, and Swire Properties (01972.HK)