Core Viewpoint - Hong Kong property prices are experiencing a recovery, with optimistic market sentiment driving developers' stock prices up since the beginning of the year. However, the expected increase in property prices will be moderate due to cooling interest rate cut expectations and resilient mortgage rates [1] Group 1: Market Trends - New property sales have shown strong demand, with New World Development's Sierra Sea Phase 2A receiving over 49,000 applications, resulting in an oversubscription of more than 214 times [1] - The average price per square foot for this batch of units is approximately HKD 10,968, which is 5.5% and 3.1% higher than the prices of Phase 1A and 1B sold in April and May of last year, respectively. However, this increase is lower than the market's overall 6.8% rise during the same period [1] Group 2: Company Insights - The report mentions a potential acquisition of Rosewood Hotel Group by Marriott International, noting that Rosewood is a sister company of New World Development. Even if the transaction occurs, it is believed that Chow Tai Fook Enterprises will not use the proceeds to repay New World's debts [1] - The firm maintains a 5% growth forecast for Hong Kong property prices by 2026, with a preference for stocks such as Hysan Development and Link REIT, both rated as "outperform" [1]

Core Viewpoint - Hong Kong property prices are experiencing a recovery, with optimistic market sentiment driving developers' stock prices up since the beginning of the year. However, the expected increase in property prices will be moderate due to cooling interest rate cut expectations and resilient mortgage rates [1] Group 1: Market Trends - New property sales, such as the Sierra Sea Phase 2A by Sun Hung Kai Properties, received over 49,000 applications, with an oversubscription rate exceeding 214 times. The average price per square foot for this batch is approximately HKD 10,968, which is 5.5% and 3.1% higher than the previous phases sold in April and May last year, respectively [1] - The increase in property prices is lower than the market's overall increase of 6.8% during the same period and significantly below the 29% increase seen in the same company's "Tianxi Tian" Phase 2 [1] Group 2: Company Insights - There are rumors that Marriott International may acquire Rosewood Hotel Group, which is under Chow Tai Fook Enterprises. However, it is noted that even if the transaction occurs, Chow Tai Fook is unlikely to use the proceeds to repay debts owed to New World Development [1] - The company maintains a forecast of a 5% increase in Hong Kong property prices by 2026, with preferred stocks being Hysan Development (00014) and Link REIT (00823), both rated as "outperform" [1]

Core Viewpoint - As of January 15, a total of 105 stocks reached their 52-week highs, with notable performers including 德莱建业 (01546), 东曜药业－Ｂ (01875), and 大森控股 (01580) achieving high rates of 78.00%, 51.36%, and 37.61% respectively [1]. Summary by Category 52-Week Highs - 德莱建业 (01546) closed at 0.355, with a peak of 0.445, marking a high rate of 78.00% [1]. - 东曜药业－Ｂ (01875) closed at 4.190, reaching a high of 4.450, with a high rate of 51.36% [1]. - 大森控股 (01580) closed at 0.275, with a peak of 0.300, achieving a high rate of 37.61% [1]. - 顺兴集团控股 (01637) and 怡园酒业 (08146) also showed significant increases, with high rates of 36.36% and 24.74% respectively [1]. Additional Notable Stocks - JBB BUILDERS (01903) reached a high rate of 24.12% with a closing price of 2.830 [1]. - 天臣控股 (01201) and 江苏创新 (02116) had high rates of 15.38% and 15.00% respectively [1]. - 万国黄金集团 (03939) and 竣球控股 (01481) also performed well, with high rates of 12.95% and 12.44% respectively [1]. 52-Week Lows - The report also noted stocks reaching 52-week lows, with 天彩控股 (03882) showing a low rate of -14.42% [3]. - 中国智慧能源 (01004) and 基石控股 (01592) followed with low rates of -13.64% and -12.86% respectively [3]. - 弘毅文化集团－旧 (02990) and 中原建业 (09982) also reported significant declines of -9.09% and -6.06% respectively [3].

Group 1 - New World Development (00017.HK) has seen a significant increase of over 15%, with a cumulative rise of nearly 30% within the month [2] - As of the latest update, New World Development is up by 12.52%, trading at 9.26 HKD, with a transaction volume of 345 million HKD [2]

Group 1 - New World Development (00017) has seen a stock price increase of over 15%, with a cumulative rise of nearly 30% within the month, currently trading at HKD 9.26 with a transaction volume of HKD 345 million [1] - Recent market rumors suggest that Marriott International is considering a strategic acquisition of the Rosewood Hotel Group, a subsidiary of Chow Tai Fook Enterprises, referred to internally as the "Pegasus Plan" [1] - Marriott International has stated it will not comment on rumors or speculation regarding mergers or other transactions, while Rosewood Hotel Group confirmed that it is not for sale and all hotels are operating as usual [1] Group 2 - Morningstar has released a report upgrading the fair value of New World Development, citing better-than-expected progress in asset disposals and stable performance in core leasing operations as reasons for the valuation increase [1] - The report highlights that the trends in Hong Kong's interest rates and changes in property market policies remain key variables for future performance [1]

Group 1 - New World Development (00017) has seen a stock price increase of over 15%, with a cumulative rise of nearly 30% within the month, currently trading at 9.26 HKD with a transaction volume of 345 million HKD [1] - There are market rumors regarding Marriott International's potential strategic acquisition of Rosewood Hotel Group, owned by Chow Tai Fook Enterprises, referred to internally as the "Pegasus Plan" [1] - Marriott International has stated it will not comment on rumors or speculation regarding mergers or other transactions, while Rosewood Hotel Group confirmed that it is not for sale and all hotels are operating as usual [1] Group 2 - Morningstar has upgraded the fair value of New World Development, citing better-than-expected progress in asset disposals and stable performance in core leasing business as reasons for the valuation increase [1] - The report highlights that the trends in Hong Kong interest rates and changes in property market policies remain key variables for future performance [1]

Group 1 - Hong Kong real estate stocks are experiencing a strong rally, with New World Development (00017.HK) rising over 10% [1] - Zhengshang Industrial (00185.HK) has increased by more than 9% [1] - Other companies such as Fantasia Holdings (01777.HK) and Zhongliang Holdings (02772.HK) are also seeing gains [1]

Core Viewpoint - The Hong Kong Stock Exchange announced adjustments to stock option position limits for 36 companies, increasing limits for 26 companies and decreasing limits for 10 companies, effective April 1, 2026 [1]. Group 1: Companies with Increased Position Limits - New World Development (00017) will see its position limit increase from 50,000 to 150,000 contracts [2]. - MTR Corporation (00066) will have its limit raised from 50,000 to 100,000 contracts [2]. - Geely Automobile (00175) will also have its limit increased from 50,000 to 100,000 contracts [2]. - Other notable increases include BYD Electronic (285) from 100,000 to 200,000 contracts and China Biologic Products (1177) from 50,000 to 250,000 contracts [2]. Group 2: Companies with Decreased Position Limits - China Railway Group (601390) will see its limit reduced from 250,000 to 200,000 contracts [3]. - China Overseas Land & Investment (00688) will have its limit cut from 100,000 to 50,000 contracts [3]. - China Tower (00788) will experience a decrease from 200,000 to 100,000 contracts [3]. - Other significant reductions include China Minmetals (2319) from 250,000 to 150,000 contracts and Sunny Optical Technology (2382) from 100,000 to 50,000 contracts [3].

Core Viewpoint - International rating agency Morningstar has raised the fair value estimate of Hong Kong property developer New World Development from HKD 5.5 to HKD 5.8, an increase of approximately 5.5% [1] Group 1: Asset and Cash Flow Assessment - The adjustment reflects a reassessment of the company's asset portfolio and cash flow expectations [1] - Recent asset disposal progress has exceeded expectations, contributing positively to the valuation [1] - The core leasing business has shown stable performance, supporting the valuation increase [1] Group 2: Market Variables - The agency highlights that the trends in Hong Kong interest rates and changes in property market policies remain key variables for future developments [1]

Core Viewpoint - K11MUSEA reported a nearly 50% year-on-year increase in overall foot traffic during the three-day New Year holiday, with retail and dining tenants experiencing double-digit sales growth [1] Group 1: Sales Performance - The highest single transaction amount exceeded 1 million HKD, primarily concentrated in the jewelry and watch categories [1] - Retail and dining tenants recorded double-digit sales growth during the holiday period [1] Group 2: Customer Demographics - The proportion of mainland Chinese visitors is steadily recovering, driving high-end consumption [1] Group 3: Future Initiatives - To maintain momentum, K11MUSEA plans to launch a spring-themed installation and limited-time promotions in mid-January, collaborating with several luxury brands to offer exclusive products [1] - The goal is to increase foot traffic by an additional 30% during the upcoming Chinese New Year holiday [1]