《大行报告》汇丰研究料下半年地产市道温和复苏 推荐新地、新世界和信置等
汇丰研究发表的报告指,上半年香港地产股业绩一如预期表现较弱,除新世界(00017.HK)以外平均核心盈利跌约13.4%,主要因为零售及招待业务均受疫情影响,而最令人失望的是长实(01113.HK),公司将每股派息削35%。展望将来该行估计部分地产股盈利跌幅将收窄至按年跌10.9%,当中包括嘉里建设(00683.HK)、九仓(0004.HK)及恒隆地产(00101.HK)。
该行估计下半年发展商销售表现将较好,惟收租股则受到租金压力。而下半年发展商的盈利可见性亦较收租股高,主要因为入帐表现强劲,而持续的低息环境及宽松政策取态亦有利支撑楼市。以新地(00016.HK)为例公司主打大众化市场,现时市场亦有良好反应,而部分豪宅买家亦重现。
在写字楼市场方面该行认为续租租金或呈跌势,主要因为写字楼需求弱,而在零售业主方面非必然品或现减租。
该行料行业将自经济衰退及疫情复苏,倾向发展商多於收租股,认为楼市复苏或较快,在开发商中推荐新地、新世界、信置(00083.HK),均予「买入」评级,收租股则推荐恒隆地产及领展(00823.HK)。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.