Daiwa: Maintains target price of HK$16 for Sun Hung Kai Properties (01972.HK) with a rating of "in line with the market".

According to the Zhitong Finance APP, Morgan Stanley released a research report stating that it maintains a target price of 16 Hong Kong dollars for Swire Properties (01972.HK) and a "in line with the market" rating. Swire Properties announced its first quarter rental performance. In terms of Hong Kong office space, rental prices at Pacific Place remained flat for the quarter, with a rental adjustment rate of -16% in the first quarter of 2025, flat compared to the same period last year. In the first quarter of 2025, in terms of Hong Kong retail, Pacific Place saw a 5% decrease in retail sales compared to the same period last year, while Cityplaza saw a 5.8% decrease, slightly better than the overall market in Hong Kong. On the other hand, TaiKoo Hui in Chengdu saw an increase of 2.9%. In terms of mainland retail, the first quarter saw improvements in retail sales for all 6 retail malls. Shanghai and Beijing showed positive growth, while Guangzhou and Chengdu recorded declines.