Swire Properties Ltd., the Hong Kong commercial landlord with tenants including JPMorgan Chase & Co., posted a 59 percent gain in adjusted full-year underlying profit on higher rental income from its offices and shopping malls as well as apartment sales in the city.
Henderson Land Development Co. , the flagship company of Hong Kong’s second-richest man, has lost 20 percent of its market value this year as it became the focus of government efforts to curb property prices and police raided its offices. Now some analysts say it’s time to buy.
Hong Kong stocks rose, with the benchmark index advancing for a second day, after Premier Wen Jiabao said China’s government will boost measures to support growth in the world’s second-biggest economy.
Hong Kong’s Hang Seng Index rose for a second day, led by exporters after reports showed employment and consumer sentiment improved in the U.S., easing concern the global economic recovery will falter.
Hong Kong stocks dropped, with the Hang Seng Index falling for a second day, on concern China’s economic slowdown will deepen amid waning export demand as Europe’s leaders struggle to solve the region’s debt crisis.
Hong Kong stocks rose for the first time in three days, led by developers and oil producers, after the Standard newspaper said Sino Land Co. sold apartments at higher prices, and crude prices advanced.