CK Asset leads slide in HK property developers on weak residential market outlook

Sino Land

11/12/2018 02:55

** CK Asset Holdings  1113.HK  leads slide in major Hong
Kong property developers, easing as much as 1.4 pct to its
lowest in two weeks, amid weak outlook of residential market in
2019
    ** Shares of Sun Hung Kai Properties  0016.HK  and 
Henderson Land  0012.HK  fall 0.8 pct, while Sino Land  0083.HK 
eases 0.7 pct
    ** Colliers International says in its Annual Hong Kong
Investor Survey Report 2018 that the city's residential market
is facing more downward pressure in 2019 with poll respondents
expecting a drop of between 5 and 15 pct 
    ** Property agency Midland expects the city's residential
property price to fall about 10 pct in 2019 after a 5 pct growth
in 2018 
    ** Real estate services firm Cushman & Wakefield  CWK.N 
expects Hong Kong's home price to slide about 10 pct in 2019
    ** Hong Kong government will keep public money away from any
bailouts of the property market, SCMP cited Hong Kong's chief
executive Carrie Lam as saying [https://bit.ly/2GdAvcT]  
    ** "Don't count on the government rescuing the (property)
market," Lam told an economic summit in Hong Kong.
    ** The Hong Kong Hang Seng sub-index tracking property firms
 .HSNP  slides as much as 0.5 pct; index later recovers and
edges up 0.1 pct

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