Core Viewpoint - Morgan Stanley reports that Hang Lung Properties (00101) has seen a significant improvement in mainland tenant sales in Q3, with a year-on-year increase of 10%, surpassing the bank's low single-digit growth expectation and reversing a 1% decline in the previous quarter [1] Group 1: Company Performance - Hang Lung Properties' Q3 tenant sales improved significantly, with a 10% year-on-year increase [1] - The company’s dividend yield stands at 5.9%, making it an attractive investment option [1] - The performance during the National Day Golden Week was strong, with tenant sales increasing by 15% in the first four days compared to the previous year [1] Group 2: Future Outlook - Morgan Stanley expects the trend of improving tenant sales to continue into Q4, supported by new tenants like Lao Pu Huang (06181) and the expansion of existing tenants at Shanghai Hang Lung Plaza [1] - Hang Lung Properties is listed as one of Morgan Stanley's top two real estate stock picks, with a target price of HKD 10 [1] - Another preferred stock by Morgan Stanley is Swire Properties (01972), which is also expected to benefit from the recovery of the Chinese retail market [1]