0818 GMT - The recent easing of policies for Shenzhen residents visiting Hong Kong is mildly positive for the Hong Kong retail sector, CGS International analysts write in an email. The Hong Kong local government announced early Friday that Shenzhen residents can stay up to seven days per visit to Hong Kong. In the first ten months of this year, mainland Chinese visitors accounted for 77% of Hong Kong's visitor arrivals, and the analysts expect total visitor arrivals to reach 44 million in 2024. Wharf Real Estate Investment, Link Real Estate Investment Trust and Sun Hung Kai Properties are expected to benefit the most among Hong Kong developers with high retail exposure, as higher visitor arrivals boost traffic at their shopping malls, they say. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 29, 2024 03:18 ET (08:18 GMT)
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