Henderson Land rises as Hong Kong scraps property tightening measures

Henderson Land Development Co

28/02/2024 07:20

** Shares of Henderson Land  0012.HK  up 3.6% at HK$23.00,
top gainer on Hong Kong's property developers  .HSNP 
    ** Stock also third-biggest gainer on Hang Seng Index  .HSI 
    ** Hong Kong on Wednesday announced major measures to
bolster real estate market by scrapping all tightening measures
for residential properties
    ** Hong Kong will cancel all additional stamp duties on
transactions and waive stamp duties payable on the transfer of
REIT units, Financial Secretary Paul Chan told lawmakers
    ** Shares of peers CK Asset  1113.HK , Sun Hung Kai
Properties  0016.HK , Wharf REIC  1997.HK  and New World
Development  0017.HK  rise between 0.4% and 3.3%
    ** Property agencies also jump with Midland Realty  1200.HK 
up as much as 44.6% to HK$0.94, highest since February 2023;
Legend Upstair  0459.HK  surges as much as 16.5%
    ** Hang Seng Property Index  .HSNP  rises as much as 2.6% to
16,939.14, but reverses direction and last down 0.2%
        ** Hang Seng Mainland Properties Index  .HSMPI  down
3.5% and Hang Seng Index  .HSI  down 1.35%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))