Morgan Stanley Foresees High Single-Digit Year-on-Year Growth for Hong Kong's May Retail Figures, Notes Stable Rental Trend for LINK REIT

Stock News14:20

Morgan Stanley has issued a research report stating that Hong Kong's total retail sales value for April increased by 8.6% year-on-year. While this figure was below market expectations of 13.7%, it aligned with the firm's own projections.

The report anticipates that, driven by healthy economic growth and a recovery in inbound tourism, Hong Kong's total retail sales for May will sustain a high single-digit year-on-year increase.

Furthermore, it is expected that sales of essential goods will stabilize further, while the overall leasing market may continue to experience a downturn until the first half of 2028.

Morgan Stanley noted that although LINK REIT (00823) has provided relatively conservative guidance on rental increases, a trend of stable current rents is evident within its Hong Kong retail property portfolio.

The firm has assigned an "Overweight" rating to the stock.

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