HK's Champion REIT jumps to 19-mth high on strong yearly results

Champion Real Estate Investment Trust

22/02/2019 02:53

** Units of Champion Real Estate Investment Trust  2778.HK 
rise as much as 4.1 pct to HK$6.35, highest level since July 18,
2017, after the trust posts solid growth in yearly results 
    ** The trust posts an 8.3 pct rise in distributable income
for 2018 with total rental income rising 10.1 pct from a year
ago and net property income increasing 11 pct  urn:newsml:reuters.com:*:nFWN20G0HN
    ** The trust anticipates its office portfolio to continue to
deliver a stable growth in 2019, but says risks of retail
marketing are rising amid challenging Hong Kong economy on
intensifying US-China trade conflict
    ** Daiwa raises target price to HK$7.10 from HK$6.45, saying
some of the trust's property assets have yet to reach their full
potential 
    ** As of the previous close, the unit had risen 13.8 pct so
far this year. 
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  edges down 0.02 pct, and the benchmark index  .HSI 
eases 0.6 pct
    

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)