The “subdivided shop” in Capital Plaza changed hands and fell by 97% in 11 years – 20241115 – Economy – Daily Ming Pao

Hong Kong Real Estate Update – November 15, 2024

Hong Kong stocks opened positively as the market resumed operations smoothly on the Hong Kong Stock Exchange. However, industry indexes saw mixed results. The Hang Seng Index dropped by 387 points as the yuan declined to a three-month low.

Key financial performances included Tencent, which prompted Goldman Sachs to raise its target price to 542 yuan. JD.com reported a 24% increase in quarterly earnings, surpassing expectations thanks to an “old-for-new” policy. In contrast, NetEase experienced a 13% decrease in profit attributable to shareholders, falling short of projections.

Geely’s CEO announced efficiency measures, stating the need for integration between Ji Krypton and Lynk & Co after liquidating holdings exceeding 10 billion yuan. Geely’s profit rose by 92% last quarter, achieving a record revenue for a single quarter.

In real estate, Shanghai’s second-hand property transaction volume surpassed 11,000 this month, while Cathay Pacific planned to buy back a convertible bond maturing in 2026, worth 6.74 billion yuan. The property market is facing challenges as transaction volumes fluctuate and prices adjust.

Medical doctors were noted for a special rate of 9.7 yuan, with potential implications for dividend payouts. Sasa reported a 68% drop in medium-term earnings and announced a dividend of 0.75 cents.

Guofu Hydrogen Energy’s recent market debut saw a price increase of over 20%. Currency movements showed the US exchange rate rising above 107, while the Japanese yen depreciated against the Hong Kong dollar, exacerbating Japan’s capital outflows.

Notable corporate earnings included Disney, which reported a 74% profit increase due to the streaming movie business. Burberry’s stock rebounded by 19%. Analysts suggested that Meitu represents a small investment opportunity.

The housing market in Bangkok is seeing a rise in construction costs, with first-hand property prices expected to reach 55 million yuan next year. The Hui Ming Yuan duplex owner made over double the profit within 18 years.

There was a significant fluctuation in property valuations; for instance, the subdivision at Tung Chung East Station Phase 1 saw a 50% drop within a year, while House No. 2 in Yugu saw price reductions of 40% after a prolonged sluggish market. The “subdivision shop” at Capital Plaza experienced a dramatic 97% decline over 11 years.

As the market reacts to these dynamics, investors should remain alert to ongoing changes in property values and corporate performances.