CK Asset leads slide in property stocks; HK home prices fall in Aug

Wharf Real Estate Investment

28/09/2018 04:53

** Hong Kong property stocks slide after major banks raise
prime lending rates, increasing home mortgage repayments while
the city's home prices falls for the first time in 29 months in
August
    ** Hang Seng property sub-index  .HSNP , tracking real
estate developers, eases 0.2 pct with CK Asset Holdings
 1113.HK  leading the slide, falling 1.1 pct
    ** Hong Kong private home prices are expected to soften
further as interest rates rise and the Sino-U.S. trade war
clouds the outlook for the city's economy  urn:newsml:reuters.com:*:nL3N1W73H3
    ** Sun Hung Kai Properties  0016.HK  falls 0.6 pct, Wharf
REIC  1997.HK  down 0.5 pct, Henderson Land  0012.HK  eases 0.4
pct, and Hang Lung Properties  0101.HK  is down 0.3 pct
    ** The city's commercial banks raised their benchmark
lending rates on Thursday for the first time in 12 years,
increasing the cost of home mortgage repayments. More hikes are
expected into 2019  urn:newsml:reuters.com:*:nL4N1WC2WH
    ** The Hong Kong benchmark index  .HSI  rises 0.6 pct

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