Hang Seng property index at 6-wk low on worries of new sales terms

Sun Hung Kai Properties

13/02/2023 06:54

** Hang Seng Property Index  .HSNP  falls as much as 4.9% to
25,508.59 points on Monday, lowest since Jan. 3
    ** The property index trims losses to trade down 2.97 pct in
early afternoon trade, but is lagging a 0.3% decline in the
benchmark Hang Seng Index  .HSI 
    ** Hong Kong's Lands Department began to include applicable
provisions of the National Security Law in the terms of land
sales and short-term leases last year and now the govt has the
right to disqualify bids and suspend short-term leases due to
national security reasons, Hong Kong Economic Times reports
    ** The terms had been included in the latest land sales, the
report says, citing Lands Department's available information
    ** Lands Department does not immediately response to
Reuters' email request for comment
    ** Units of Link REIT  0823.HK , which announced its right
issue plan, leads slide in Hong Kong-based property firms
dropping 14.3% 
    ** CK Asset  1113.HK , Hang Lung Properties  0101.HK , Sun
Hung Kai Properties  0016.HK , Wharf REIC  1997.HK , Henderson
Land  0012.HK  and New World Development  0017.HK  fall between
1.3% and 7.5% 
 (Reporting by Donny Kwok and Jessie Pang)
 ((donny.kwok@thomsonreuters.com))