Streetbeat News

HLPPY

Hang Lung Properties Limited

https://www.hanglung.com

CEO

Wai Pak Lo

Open

4.31

Mkt cap

4.1B

Volume

2.3K

High

4.34

P/E Ratio

14.20

52-wk high

5.99

Low

4.26

Div yield

0.11

52-wk low

3.30

Chinese stock markets continued their decline with the Hang Seng index dropping 2.3% and the Shanghai Composite by 1.8%. Hang Lung Properties and Longfor Properties saw significant losses. Despite a short-selling ban by the China Securities Regulatory Commission, the sell-off persisted, driven by investors exiting the market rather than hedge funds. U.S.-listed ETFs like the iShares MSCI China ETF experienced net outflows, with MCHI losing a third of its value over the past year. Market analysts attribute the downturn to political factors and trade tensions rather than economic issues. Tim Seymour expressed a cautious stance on China, highlighting state control over companies like Tencent and Alibaba.

Portfolio Pulse from Neil Dennis

January 30, 2024 | 2:55 pm

Hong Kong stocks ended the week positively as investors anticipate government easing measures in China to stimulate the economy. Goldman Sachs and Citigroup reports suggest the economic slowdown in China is ending. Property stocks and exporters saw significant action, with Hang Lung Properties, Sino Land Company, and Country Garden Holdings seeing increases. Alibaba, JD.com, Tencent Holdings, and AIA Group also saw increases. CNOOC experienced a slight drop after announcing a delay in offshore bond repayment. NIO is reportedly putting pressure on rival EV makers Tesla, Li Auto, XPeng, and BYD Company in China after raising sales commissions for its agents.

Portfolio Pulse from Daniel Harrison

October 06, 2023 | 3:16 pm

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