 |
|
  |
2009-2-4 12:45:00 p.m. HKT, XFNA
DJ MARKET TALK: HK Developers' Outperformance Unsustainable -GS
|
| |
| 1227 [Dow Jones] Goldman Sachs tips underlying earnings for HK's major developers range from 74% on-year fall to 360% rise, with reporting season to start from Feb. 10; expects major landlords to report 2% fall to 89% rise in underlying earnings. "Due to the lagging effect of lease renewals and property presales, we would not see the full negative impact of the macroeconomic downturn on this set of results," says Goldman. Adds, developer stocks outperformed investor stocks by 13% over past two months, but this unlikely to sustain amid general economic downturn. Rates Henderson Land (0012.HK), New World Development (0017.HK) and Hang Lung Group (0010.HK) at Sell; Buy on Great Eagle (0041.HK) and Kerry (0693.HK); Neutral on Sun Hung Kai Properties (0016.HK). Hang Seng Property Subindex +0.2% at 15,961.29 vs HSI's 2.4% rise.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=EJTwVQxAciiTOu%2B572Wsgg%3D%3D. You can use this link on the day this article is published and the following day.
(Delayed by 1 hour)
-0-
Copyright (c) 2009 Dow Jones & Company, Inc. |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
