On September 4, HENDERSON LAND rose 3.07% in regular trading, trading at 26.88 HKD/share, with turnover of approximately 116 million HKD. The stock exhibited a recovery pattern following a 4.28% decline on August 31 when the sector came under pressure amid renewed rate hike expectations.
The broader Real Estate Development sector staged a broad-based rally, with Longfor Group up 8.91%, Sunac up 7.14%, China Resources Land up 2.69%, China Overseas up 2.35%, and C&D International Group up 2.34%, collectively lifting sentiment across the board.
On the fundamental side, HENDERSON LAND reported strong H1 results on August 20, with revenue surging 80% year-over-year to 17.203 billion HKD, shareholders attributable profit rising 40.65% to 4.09 billion HKD, and core net profit jumping 66% to 5.07 billion HKD. Hong Kong property attributable contracted sales soared 188% year-over-year to approximately 18.118 billion HKD. BOCOM International maintained a Buy rating with a target price of 35.24 HKD, while Bank of America downgraded the stock to Neutral with a target price of 31 HKD on August 31.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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