Pre-market trend | SHK PPT (0016.HK) volume increased on April 30 for a pullback to test the bottom, is the real estate leader gearing up for a rebound?

Yesterday's closing, SHK PPT's stock price opened high and closed low, ultimately closing at HKD 135.8, down 3.0% from the previous trading day. After reaching a high of HKD 140.0 during the session, it faced selling pressure and fell back, with an intraday volatility of 3.2%. On the MACD daily chart, a bullish signal has just formed above the zero axis, and the short-term moving averages are still maintaining an upward trend. This signal typically indicates signs of a phase of buying return in the context of a medium-term bullish trend. It is noteworthy that the trading volume on that day reached approximately HKD 783 million, which is considered a significant increase in the real estate sector, indicating intense capital competition. The opening price was also the highest price of the day at HKD 140.0, suggesting that there was an attempt to quickly push up the price in the morning, but it was immediately suppressed by profit-taking and short positions. On the news front, the ongoing geopolitical tensions in the Middle East and reports of the U.S. military planning to strike Iran have driven oil prices to a four-year high, with Brent crude oil rising over 7% to USD 126, putting pressure on global risk assets. For SHK PPT, high oil prices may raise inflation expectations, potentially delaying the Federal Reserve's interest rate cuts, while the Fed's latest meeting maintained rates at 3.50%-3.75%, continuing a wait-and-see strategy, which poses certain pressure on the valuation recovery of the Hong Kong stock real estate sector. Meanwhile, the April PMI data shows that the domestic economy is still marginally recovering but with weakening momentum, and the weak recovery of domestic demand continues to constrain the overall performance of the real estate sector in the short term. However, as a leading local real estate company in Hong Kong, SHK PPT's stable cash flow from its quality commercial properties still holds defensive value in an uncertain environment