Zheng Quan Shi Bao Wang·2025-07-29 11:17Core Viewpoint - Morgan Stanley's research report indicates that the Hong Kong residential market may have reached its bottom due to a decline in supply, a decrease in HIBOR, and an increase in mainland buyers [1] Market Performance - In the first half of the year, residential transaction volume increased by 3.9% to 29,500 units [1] - Transactions for properties priced below HKD 4 million surged by 305%, attributed to stamp duty exemptions [1] Investment Recommendations - Morgan Stanley maintains a positive outlook on the Hong Kong residential market, recommending high dividend yield and well-supplied developers such as New World Development and Henderson Land Development [1] - The report suggests that developers will benefit preferentially in a declining interest rate environment, assigning a "buy" rating to these companies [1]