CK Asset leads losses among HK developers after regulator hikes base rate

Hang Lung Properties

20/12/2018 06:26

** Shares of CK Asset Holdings  1113.HK  lead losses in
property stocks, with Hang Seng sub-index  .HSNP  at a near
two-week low 
    ** The Hong Kong Monetary Authority (HKMA) on Thursday
raised the base rate charged through its overnight discount
window by 25 basis points, hours after the U.S. Federal Reserve
raised its interest rates by a quarter of a percentage point 
 urn:newsml:reuters.com:*:nL3N1YN24B
    ** Hong Kong's policy moves in lock-step with that of the
United States because its currency is pegged to the greenback
    ** HKMA warns of increasing downside risks to the economy
from uncertainty over the Sino-U.S. trade dispute, urging
residents to be prepared for possible market volatility after
U.S. interest rate hikes 
    ** CK Asset slips as much as 3.7 pct, marks its biggest
intraday pct decline since Feb
    ** Shares of Hang Lung  0101.HK , Henderson Land  0012.HK 
and New World Development  0017.HK  fall more than 2 pct
    ** Property agencies and consultancies expect Hong Kong's
home price to fall 5 pct-15 pct in 2019, after a 5 pct growth in
2018   urn:newsml:reuters.com:*:nL3N1YG1IR
    ** The Hong Kong benchmark index  .HSI  drops 1.3 pct

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