After falling below 30,000 points, US stocks rebounded decently and rebounded 548 points, but Hong Kong stocks could not follow. The Hang Seng Index rose first and then fell. However, the hot topic in the market was Cheung Kong (1113)’s one-off sale of all unsold units in Borrett Road.
Cheung Kong sold the unsold residential units and parking spaces of the Borrett Road project for nearly 20.8 billion yuan this time. The buyer is Sino Suisse Capital Pte., a Singapore company, and the income is expected to reach 6.3 billion yuan. help the transaction complete. After the news was announced, some analysts pointed out that Cheung Kong is bearish on the future of luxury housing, so it is willing to sell at a discount, and this is evidenced by the fact that the company sold the Central Center a few years ago after the commercial buildings peaked. After the mansion market road. Singapore took the lead in adopting a liberalization strategy during the epidemic, grabbing people and money from Hong Kong, and the economy successfully rebounded. The local property market rental boom was booming due to the influx of Hong Kong companies.
SHKP fell through “Granny Guo’s price”
For all transactions, there must be both optimistic and negative aspects in order to shake hands and make a deal. Cheung Kong has always adopted the strategy of turning goods around when starting and selling buildings. This shipment can lock in considerable profits, so why not do it. The most important thing for a consortium to do deals is to count, as long as the returns are attractive, you can do a deal. What few people talk about in the market is the cost of capital. Now the bank interest rate is rising, and the risk premium is rising, so the interest rate to borrow money has increased a lot. For some traditional large companies that are not listed, the loan interest rate is now close to 10%. . The price of the local luxury housing market is high, but the transaction is slow. If the 20 billion goods are insisted on bidding at a good price, it may take 3 or 4 years to sell. With the rising cost of capital, the number of items is quite different from the same year ago. When the property price rises faster than the interest cost, waiting for the goods is like a rising tide. There is no need to rush to sell. If the interest increases but the property price does not rise, it will become a boat against the current. Besides, it is still unknown how much the interest rate will rise. There is a chance to cash out 20 billion yuan. Flat goods are definitely counted in the number of commercial articles.
In recent years, Changshi has not bought much land in Hong Kong. Now there are fewer mainland property developers in the market, Hong Kong real estate developers believe that they will be prudent in their sales. It is the right time to choose fat and eat. It is estimated that a total of 2,500 units will be built, including sites such as Kai Tak and Stanley. In addition, “One Railway, One Bureau” continued to launch residential projects, with a total of 2 projects launched, involving 1,600 units; among which, MTR launched the first phase of the MTR Xiao Ho Wan Depot, which has just reached a land exchange agreement, involving 1,400 units; together with private development The project is expected to provide 5,900 units this quarter. Before the current government came into play, the lack of building supply and the difficulty of getting into cars became social concerns. With the rise in interest rates and the pullback in property prices, the interest in housing supply has declined, which just gave the SAR government the opportunity to build land and build buildings. , the wealthy consortium will not worry about not having the opportunity to buy land, and the return is higher than holding the built property at a good price and selling it.
Changshi successfully dumped goods. Although the market was down, the stock price still rose 1.8% to close at 47.2 yuan; the same department Cheung Kong Infrastructure (1038) rose 1.4% to 39.6 yuan; Changhe (001) fell 0.7% to 43.15 yuan, Under the weak market, other real estate stocks generally fell. Henderson (012) fell by nearly 1% to close at 21.95 yuan. The price of Henderson’s recently launched New Territories market has been criticized. I believe this is also after taking into account the cost of capital. sales strategy. The relatively strong Xindi (016) fell 2.3% to 86.85 yuan. In the past, Xindi fell below the 90 yuan level. The major shareholder, Mrs. Guo, often shows up to buy goods, and many people will follow and place bets.
The first two new stocks hang together and break together
The market could have followed the bounce at the opening, but A shares were weak, and US stock futures also fell. In the afternoon, the index fell to 17046 points and closed at 17165 points, down 85 points, with a turnover of 91.6 billion yuan; the state-owned enterprise index closed at 5912 points, down 46 points point. Many shares saw new lows again. Country Garden (2007), a major Chinese property developer, added 12% to 1.67 yuan. The entire sector was under obvious selling pressure, with many hitting record lows. Shanghai Real Estate Group (1207) plunged 21% to 0.019 yuan; Dragon Dragon China (6968) fell 18% to 2.35 yuan; CIFI (884) fell 16% to 0.72 yuan; Powerlong Properties (1238) fell 15%, Report 0.75 yuan.
Leaprun (9863) and Wanwanyun (2602) broke on the first day of listing, closing down 34% and 6.8%, respectively, at 31.9 yuan and 46 yuan.
Jin Riku