HK Stock Market Move | WHARF REIC (01997) rose nearly 4% during trading, Hong Kong retail sales performance in March exceeded expectations.

WHARF REIC (01997) surged nearly 4% in intraday trading, rising 3.6% to HK$25.92 as of the time of publication, with a trading volume of HK$1.17 billion. On the news front, data from the Hong Kong Census and Statistics Department on May 6 showed that the provisional estimate of total retail sales value in Hong Kong for March 2026 was HK$339 billion, up 12.8% year-on-year. The revised estimate of total retail sales value for January and February 2026 combined increased by 11.8% compared to the same period in 2025. Compared to the same period in 2025, the provisional estimate of total retail sales value for the first quarter of 2026 increased by 12.1%. UBS pointed out that Hong Kong's retail sales performance in March exceeded expectations, with positive implications for retail real estate developers focused on non-essential consumer goods, such as Wharf Real Estate Investment Company and Henderson Land. Meanwhile, Citigroup mentioned that luxury retail sales in the first quarter of this year showed strong performance, outperforming overall retail sales. They believe that the gradual recovery in visitor arrivals and the depreciation of the Hong Kong dollar should continue to support the recovery of local luxury retail sales this year.