（原标题：创辉珠宝(08537)发盈喜 预计中期净溢利增长至约360万港元） 智通财经APP讯，创辉珠宝(08537)发布公告，预期集团将于截至2025年9月30日止六个月取得净溢利约 360万港元(2024：净溢利约30万港元)。增长主要归因于期内香港零售市场的复苏及金价的飙升。 ...

智通财经APP获悉，领展(00823)再跌超5%，截至发稿，跌5%，报36.86港元，成交额1.68亿港元。 领展董事会主席欧敦勤表示，香港零售市况受压，但市场上的租赁需求正在复苏，相信零售销售数据已 见底回升。他续指，由于租约周期通常为3年，因此存在自然滞后效应，租金需要时间调整至正常增 长，预期下半年将继续受压。 消息面上，领展房产基金公布截至今年9月底止中期业绩，可分派总额按年下降5.6%至32.83亿元，每基 金单位分派按年下降5.9%至126.88仙。期内，收益按年减少1.8%至70.23亿元，物业收入净额减少3.4% 至51.78亿元，主要由于香港及内地的续租租金调整率为负数，反映宏观环境及零售业受压。 ...

Core Viewpoint - The outlook for rental income and return growth is improving, which is expected to drive the rental yield growth for Kowloon Development [1] Group 1 - The majority of the company's debt is at floating rates, suggesting that a potential decline in HIBOR could reduce interest costs [1] - A sustainable recovery in the retail market may lead to higher stock valuations for Kowloon Development [1] - A more accommodative interest rate environment is anticipated to promote revenue growth and increase the company's stock price [1] Group 2 - The company's rating has been upgraded from "Hold" to "Buy" [1] - The target price has been raised from HKD 27.7 to HKD 29 [1]

Group 1 - Morgan Stanley has raised the earnings per share (EPS) forecasts for Hysan Development (00014) for 2025 to 2027 by 1%, 4%, and 7% respectively, reflecting better-than-expected performance in the first half of 2025 and lower interest costs [1] - The dividend per share forecast for 2025 to 2027 is maintained at HKD 1, compared to HKD 1.08 for 2024, as cash earnings are expected to be insufficient to fully cover the dividends [1] - The target price has been increased from HKD 12.5 to HKD 14.3 [1] Group 2 - The overall retail market in Hong Kong is viewed with caution due to changes in consumer behavior, expected increase in outbound tourism in the second half of the year, and rising unemployment rates [1] - A "reduce" rating is maintained as the market is still waiting for a substantial and sustainable recovery in Hong Kong's retail sector [1]

Core Viewpoint - Morgan Stanley has raised the earnings per share (EPS) forecasts for Hysan Development (00014) for the years 2025 to 2027 by 1%, 4%, and 7% respectively, reflecting better-than-expected performance in the first half of 2025 and reduced interest costs [1] Company Summary - The EPS forecast for 2025 is adjusted upwards by 1%, for 2026 by 4%, and for 2027 by 7% [1] - The dividend per share forecast for 2025 to 2027 is maintained at HKD 1, compared to HKD 1.08 in 2024, due to expectations that cash earnings will not fully cover dividends [1] - The target price for Hysan Development has been increased from HKD 12.5 to HKD 14.3 [1] Industry Summary - Morgan Stanley maintains a cautious outlook on the overall retail market in Hong Kong due to changes in consumer behavior, expected increase in outbound tourism in the second half of the year, and rising unemployment rates [1] - The firm retains a "reduce" rating as it awaits a substantial and sustainable recovery in the Hong Kong retail market [1]