The analyst rating from HSBC Global Research is based on the expectation that Hong Kong's property market policy will continue to favor the real estate sector, suggesting a supportive stance from the government. The report indicates that despite a recent increase in stamp duty on high-value residential properties, which led to a temporary decline in some developers' stock prices, this correction is viewed as healthy in the context of the sector's strong year-to-date performance. The impact of the stamp duty hike is considered limited, accounting for only 0.3% of the market's total trading volume, and is seen more as a measure to increase fiscal revenue rather than to suppress the overall residential market. Overall, the analysts believe that the government's land and housing policy will remain supportive, leading them to rate SHK PPT, Henderson Land, and Sino Land as "Buy" with unchanged target prices.
