Movement Alert|CK Asset Group Rises 3.03% in Regular Trading, UBS Maintains Buy Rating and Expects Special Dividend

Market Focus07-15

On July 15, CK Asset Group rose 3.03% in regular trading, trading at HK$46.92/share, with turnover of HK$97.23 million.

On the news front, UBS recently maintained its Buy rating on CK Asset with a target price of HK$62, expecting the company to announce a special dividend of HK$0.39-0.82 per share when reporting first-half results, reflecting the substantial gains from the UK Power Networks (UKPN) disposal. UBS noted that following UKPN completion, CK Asset will shift to a net cash position. Including the organic dividend forecast of HK$1.78 per share, total dividend yield is expected to reach 5%-6%.

The broader Hong Kong property sector also provided support. HSBC stated that Hong Kong residential prices rose approximately 10% in the first half, exceeding the original full-year forecast of 7% growth, driven by improved end-user demand, reduced inventory, and a favorable interest rate environment. Within the Real Estate Development sector, Henderson Land rose 4.67%, China Jinmao gained 6.2%, and C&D International Group advanced 2.4%.

(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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