Jinwu Financial News | Jiulongchang Real Estate (01997) The decline widened in the afternoon. As of press release, it was HK$23.9, down 3.82%, with a turnover of HK$673.57 million.
J.P. Morgan Chase released a research report indicating that Hong Kong real estate stocks have outperformed the Hang Seng Index by 10% from the beginning of the year to date. Even though the government “despised”, there are still unfavorable factors in the industry. The bank's short-term selection order will be residential, mass retail stores, luxury retail stores, and finally office buildings.
The bank downgraded the rating of Kowloon Property from “neutral” to “reduced holdings”, and the target price was reduced from HK$28.5 to HK$22.