Streetbeat News

SWRAY

Swire Pacific Ltd.

http://www.swirepacific.com

Open

8.73

Mkt cap

11B

Volume

2.7K

High

8.73

P/E Ratio

3.41

52-wk high

9.46

Low

8.70

Div yield

0.05

52-wk low

7.49

Three Hong Kong-based companies made significant announcements. Sino-Ocean Group Holding Limited (OTC:SIOLY) requested another week to make a bond interest payment, which could negatively impact its parent company, China Life Insurance Co Ltd (OTC:CILJF). Bank of China Limited (OTC:BACHF) issued a prospectus for a $1.6 billion medium term note, indicating a potentially stronger outlook. Swire Pacific Limited (OTC:SWRAY) issued a prospectus for a $5 billion medium term note offering, which could strengthen its position against struggling rivals.

Portfolio Pulse from Daniel Harrison

October 19, 2023 | 3:20 pm

Hong Kong Broadband Network (HKBN Ltd.) has issued a profit warning, expecting a loss of HK$1.3 billion ($167 million) for the year ending August 2023 due to rising interest rates. The Hong Kong Interbank Borrowing Rate (HIBOR) has surged by over four times in 2023, increasing borrowing costs. This rise in HIBOR could impact earnings of property developers like China Evergrande Group, Country Garden Holdings Company Limited, and Longfor Holdings Group Limited, and companies with high borrowing rates like Swire Pacific Ltd. and New World Development Co Limited.

Portfolio Pulse from Daniel Harrison

October 09, 2023 | 7:25 pm

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