Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hkbn-ltd" target="_blank" data-smartkarma-citation="entities:289:1" rel="noopener">HKBN Ltd (1310 HK)</a> spiked 12.3% yesterday in response to media reports (like <a href="https://www.thestandard.com.hk/breaking-news/section/4/202702/China-Mobile-explores-acquiring-Hong-Kong-telecom-firm-HKBN%C2%A0" target="_blank" rel="noopener">this one</a>) that <a href="https://www.smartkarma.com/entities/china-mobile-ltd" target="_blank" data-smartkarma-citation="entities:27:1" rel="noopener">China Mobile (941 HK)</a> was running a ruler over the company.</li>
<li>This follows Bloomberg reports last month and in May last year, that I Square's HGC Global Communications and numerous PE outfits were kicking tyres of the Hong Kong broadband play.</li>
<li>Over the weekend, Hong Kong's security chief was quoted as saying "the internet could become a major loophole when maintaining national security". <a href="https://www.smartkarma.com/entities/hkt-ltd" target="_blank" data-smartkarma-citation="entities:874:1" rel="noopener">HKT (6823 HK)</a> is a potential privatisation candidate. </li>
</ul>



HKBN Ltd (1310 HK) spiked 12.3% yesterday in response to media reports (like this one) that China Mobile (941 HK) was running a ruler over the company.
This follows Bloomberg reports last month and in May last year, that I Square's HGC Global Communications and numerous PE outfits were kicking tyres of the Hong Kong broadband play.
Over the weekend, Hong Kong's security chief was quoted as saying "the internet could become a major loophole when maintaining national security". HKT (6823 HK) is a potential privatisation candidate. 


Equity Bottom-Up

<ul>
<li>China's swift and sudden abolishment of its Covid rules triggered across-the-board outperformance for Hong Kong stocks. The HSI is up ~13% since early December 2022. </li>
<li>A strong rebound of inbound tourism and the resumption of normalised travel between Hong Kong and the mainland should underpin the city's recovery.</li>
<li>The retail sector, notably the high street shop segment, should lead this post-Covid recovery in terms of both rents and prices. </li>
</ul>


China's swift and sudden abolishment of its Covid rules triggered across-the-board outperformance for Hong Kong stocks. The HSI is up ~13% since early December 2022. 
A strong rebound of inbound tourism and the resumption of normalised travel between Hong Kong and the mainland should underpin the city's recovery.
The retail sector, notably the high street shop segment, should lead this post-Covid recovery in terms of both rents and prices. 


Hong Kong Property: Retail Reopening Front-Runners

Henderson Land Development / Event-Driven

<ul>
<li>Hong Kong Chief Executive John Lee Ka-chiu will deliver his inaugural policy address on the 19 October, where he is expected to announce a number of “ground-breaking” measures.</li>
<li>One such measure is non-residents who have owned property in Hong Kong for 3+ years may get their extra stamp duty refunded - if they take up permanent residency.</li>
<li>Secondary home prices have declined  8% year-to-date, and are approaching a five-year low. Goldman Sachs expects home prices to decline 30% in 2023 from last year’s levels.  </li>
</ul>


Hong Kong Chief Executive John Lee Ka-chiu will deliver his inaugural policy address on the 19 October, where he is expected to announce a number of “ground-breaking” measures.
One such measure is non-residents who have owned property in Hong Kong for 3+ years may get their extra stamp duty refunded - if they take up permanent residency.
Secondary home prices have declined  8% year-to-date, and are approaching a five-year low. Goldman Sachs expects home prices to decline 30% in 2023 from last year’s levels.  


Stamp Duty Relief For Hong Kong Foreigners. But Wait ...

Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Technical Analysis

<ul>
<li>This week some of the strongest names in HSI are covered.</li>
<li>In real estate, banking, and global infrastructure sectors. They have been consolidating for months and should resolve soon to establish new trends or act as a continuation pattens.</li>
<li>These are likely to prove crucial to Hong Kong and Greater China.</li>
</ul>


This week some of the strongest names in HSI are covered.
In real estate, banking, and global infrastructure sectors. They have been consolidating for months and should resolve soon to establish new trends or act as a continuation pattens.
These are likely to prove crucial to Hong Kong and Greater China.


HSBC, Sun Hung Kai Properties, and CK Hutchison Holdings

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul><li>Mapletree, a real estate firm, has sold Scottish student housing to a Dutch fund manager, expanding its international portfolio.</li><li>Shanghai office rents have decreased for the 12th consecutive quarter, reflecting a downward trend in the local real estate market.</li><li>Central Tokyo office rents have increased due to rising construction costs, impacting rates for new supply and attracting investor interest.</li></ul>

Mapletree, a real estate firm, has sold Scottish student housing to a Dutch fund manager, expanding its international portfolio.Shanghai office rents have decreased for the 12th consecutive quarter, reflecting a downward trend in the local real estate market.Central Tokyo office rents have increased due to rising construction costs, impacting rates for new supply and attracting investor interest.

Asia Real Estate Tracker (21-Apr-2025): Mapletree sells Scotland student housing.

Hong Kong

Sun Hung Kai Properties Limited develops and invests in properties. The Company operates and manages hotels, properties, car parking, and transportation infrastructures. Sun Hung Kai Properties serves customers in Hong Kong.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Sun Hung Kai Properties (16 HK)

If HKBN Gets Taken Out, Who's Next?

Is $10/share for HKBN enough to kick out TPG? Maybe. And it's peanuts for the likes of China Mobile sitting on cash of US$33bn. Separately, HKT is...

David Blennerhassett

Hong Kong Property: Retail Reopening Front-Runners

HKL is cheap at a forward P/B of 0.32x. Both Link and Wharf will benefit from the HK/China border fully opening. But Wharf REIC's two premier...

David Blennerhassett

Stamp Duty Relief For Hong Kong Foreigners. But Wait ...

Lifting the stamp duty may firm home prices but certainly won't propel price growth. The impact on sales of mass residential projects will be...

David Blennerhassett

HSBC, Sun Hung Kai Properties, and CK Hutchison Holdings

In real estate, banking, and global infrastructure sectors. They have been consolidating for months and should resolve soon to establish new trends...

Untying The Gordian Knot

Asia Real Estate Tracker (21-Apr-2025): Mapletree sells Scotland student housing.

Mapletree sells Scottish student housing, Shanghai office rents decline, and Central Tokyo office rents rise due to construction costs.

Asia Real Estate Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)