JP Morgan: Raises this year's Hong Kong property price increase forecast to 10% to 15%. SHK Properties (00016) rating upgraded to "Buy".

JPMorgan Chase released a report stating that it has raised its forecast for the price increase of Hong Kong property this year from 5-7% to 10-15%, and expects another 5% increase next year. The bank believes that the industry has entered a new stage, shifting from the "early recovery" phase to the "expansion phase". In the optimistic market environment, the bank believes that valuation standards are shifting from "dividend yield" to "asset net value discount". Therefore, it has upgraded its rating of SHK PPT (00016) to "hold", with a market target price of 162 Hong Kong dollars, based on the historical average level of expansion stage valuation, the target price is equivalent to a 20% asset net value discount rate. At the same time, the bank also has a positive outlook on SINO LAND (00083) and HENDERSON LAND (00012), with the former being particularly suitable for investors seeking returns, and the latter awaiting performance announcements and a clearer dividend policy; mid-March will be a better time to enter the market. The bank has also raised its overall target price for industry stocks it covers by 13-49%.