HK's Hang Lung leads slide in developers; UBS sees home prices falling

Hang Lung Properties

25/10/2018 06:14

** Hang Lung Properties  0101.HK  leads slide in Hong Kong
real estate developers, falling nearly 2 pct to HK$14, the
lowest since May 2016, after UBS forecast up to a 15 pct drop in
the city's home prices 
    ** CK Asset  1113.HK  drops as much as 1.9 pct to HK$52.70,
the lowest since April 2017
    ** UBS expects home prices to soften 10–15 pct in the Asian
financial hub in the next 6 to 12 months, saying rising rates
and increasing signs of slowing economic growth in China and
Hong Kong are key drags
    ** UBS says a major property price correction is unlikely as
tight supply of existing and new housing will limit the decline
of Hong Kong home prices
    ** New World Development  0017.HK  declines 1.1 pct, Sun
Hung Kai Properties  0016.HK  eases nearly 1 pct and Henderson
Land  0012.HK  slides 0.8 pct    
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  slides 0.4 pct
    ** The Hong Kong benchmark index  .HSI  falls 1.8 pct

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