HK property developer Hysan hits 6-month high; brokerage raises PT

Hysan Development

22/02/2019 05:32

** Shares of Hong Kong-based property group Hysan
Development Co Ltd  0014.HK  rise as much as 3 pct to HK$43,
their highest since Aug 9, 2018 
    ** Daiwa maintains "buy" on the stock and raises target
price to HK$53.60 from HK$52.70, saying Hysan's office portfolio
remains well-positioned in coming years with positive rental
reversion, and retail rental income set to rise at a steady pace
    ** Property investment group says its underlying profit
rises 1.8 pct to HK$2.54 bln ($323.6 mln) in 2018 with revenue
rising 9.6 pct to HK$3.89 bln  urn:newsml:reuters.com:*:nL5N20G0GU
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  edges down 0.02 pct, while the benchmark index  .HSI 
eases 0.3 pct
    ** Hysan Development stock up 12.1 pct this year, as of last
close
    


($1 = 7.8483 Hong Kong dollars)

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