(Sept 18): Even after a plunge in Hong Kong property shares following months of protests in the city, Eastspring Investments says some of the biggest stocks in the sector remain unappealing because of their valuations.
John Tsai, a portfolio manager in Singapore, trimmed his holdings of Henderson Land Development Co. and Sun Hung Kai Properties in July, and remains underweight on the sector. He cited expensive valuations and lower dividend yields relative to their peers and other sectors such as telecommunications.
SINGAPORE (Sept 16): On Sept 4, as I watched my shares in Hongkong Land Holdings bounce strongly, it occurred to me that I could be accused of being invested in the people of the former British colony not getting their way. The talk in the market that day was that Beijing would strategically allow Hong Kong Chief Executive Carrie Lam to formally withdraw the controversial extradition bill that had sparked several weeks of sometimes violent protests, but at the same time push for tougher action to restore law and order on the streets.
SINGAPORE (Sept 3): Singapore’s hotel occupancy rates have climbed to their highest in over a decade as travelers and business events switched from Hong Kong, where pro-democracy protests have slammed tourist numbers and wider business sentiment.
Data released on Monday by Singapore’s tourism board showed average occupancy rates in the city-state’s hotels hit 93.8% in July, the highest in records going back to 2005, and up from 92.5% a year ago.
(Aug 29): Hong Kong police banned a protest set for Saturday by the organiser of previous historic mass marches, the group said, in a move that could anger protesters ahead of a planned 13th straight week of pro-democracy demonstrations.
(Aug 22): Hong Kong housing rents are set to decline as anti-government protests continue to rock the city.
Real estate professionals forecast rents on Hong Kong’s main island, home to the central business district, will fall 2% in the next year, according to a survey conducted by the Royal Institute of Chartered Surveyors released Thursday. That’s a reversal from the 3% gain forecast in the previous survey, which was held just as the large-scale protests started in June.
(Aug 16): Goldman Sachs Group Inc slashed growth forecasts for the “Asian Tigers” as their exposure to the world economy -- once one of their greatest strengths -- is now backfiring as global growth slows amid trade tensions.
(Aug 15): Several Chinese companies are rethinking fundraising plans in Hong Kong as anti-government protests rock the city, an ominous sign for its future as a financial gateway between Asia’s largest economy and the rest of the world.
SINGAPORE (Aug 12): Political reforms in Hong Kong, held up by endless debate, have become an urgent necessity. What is required is a democratic system that will be acceptable to a significant portion of the Hong Kong population, even if it leaves a sizeable minority still unsatisfied.
SINGAPORE (Aug 12): The Urban Redevelopment Authority’s Singapore Master Plan (both the 2014 and the Draft 2019 iterations) is a well-thought-out, comprehensive, and sensible plan to ensure Singapore is ready for the future of city living and working.
SINGAPORE (Aug 12): The Urban Redevelopment Authority’s Singapore Master Plan (both the 2014 and the Draft 2019 iterations) is a well-thought-out, comprehensive, and sensible plan to ensure Singapore is ready for the future of city living and working.
