Retail Assets in China Should Be Resilient Despite Trade Tensions and Slowing Economy
Over the past two months, Hang Lung Properties' shares have been weighed down by continuing trade tensions and a slowing Chinese economy. However, we believe that despite the company’s large exposure to China, it should be resilient to any uncertainties. The central government has implemented a series of fiscal measures to stimulate domestic demand. We also expect liquidity conditions to improve. After dropping 10% since early April, the company’s shares are now trading at 17 times 2019 projecte...Hang Lung Properties is an investment holding company. Through its subsidiaries, Co. is engaged in property investment for rental income, property development for sales and leasing, car park management and property management. Co. segments include: property leasing in Hong Kong and mainland China; and property sales in Hong Kong. Co's property leasing segment includes property leasing operation. Co.'s investment properties portfolio consists of retail, office, residential, serviced apartments and carparks are primarily located in Hong Kong and mainland China. Co.'s property sales segment includes development and sale of Co.'s trading properties in Hong Kong.
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