0734 GMT - Higher odds of U.S. Fed rate cuts could bode well for Hong Kong property stocks, CGS International analyst Raymond Cheng writes in an email. U.S. core CPI for December rose 0.2% on month and 3.2% on year, notching the first slowdown in the past six months, he says. The lower-than-expected print led to a sharp drop in U.S. treasury yields overnight, and may signal a higher likelihood of a cut, he adds. That could benefit Hong Kong property stocks as lower Fed rates could translate into lower borrowing costs and make property loans more affordable. The brokerage stays overweight on Hong Kong property stocks with a preference for Sun Hung Kai Properties. It also likes Link and Kerry Properties for their strong dividend yield.s(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 16, 2025 02:35 ET (07:35 GMT)
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