Hong Kong property stocks rose on Friday, buoyed by the U.S. Federal Reserve’s decision to raise interest rates by a modest 0.25 percentage point. The increase, which was widely expected, was perceived as less aggressive than some investors had feared, providing a boost to the sector.
Market Response
Shares in major Hong Kong property developers saw significant gains. Investors welcomed the news, anticipating that the gradual pace of rate hikes would support the local property market.
Key Gainers
- Sun Hung Kai Properties: Up 2.1%
- Henderson Land Development: Up 1.8%
- CK Property Holdings: Up 1.5%
Analyst Commentary
Analysts noted that the limited rate hike provided a sense of relief to the market. They believe that the Hong Kong property market, while facing some headwinds, remains resilient due to strong underlying demand.
However, some cautioned that further rate hikes in the future could still pose challenges to the sector. The pace of future increases will be closely watched by investors.
