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Morgan Stanley Cuts Ratings on Hong Kong Property Stocks Including CK Asset, Hang Lung; Lowers Targets by 14-20%

2026-07-03 05:56:32

Morgan Stanley downgraded ratings on several Hong Kong property stocks on July 3. The bank cut ratings on CK Asset Holdings (00001), Hang Lung Properties (01113), and New World Development (00016) from Buy to Equal-Weight, lowering target prices by 17%, 14%, and 20% to HK$65, HK$49, and HK$121 respectively. Morgan Stanley also downgraded MTR Corporation (00066) from Buy to Equal-Weight while raising its target price by 10% to HK$33. The bank maintained Equal-Weight on Swire Pacific (00019) with a 22% target price increase to HK$82, and kept Buy on Hang Lung Development (00012) while cutting its target by 16% to HK$31. The downgrades reflect concerns that valuations remain depressed despite strong fundamentals and rising property prices and rents.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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