1、 Watchlist the stock on Insights Direct to receive prompt updates ed-JS/sa-CS/KKY Finding quality amid volatility Mainland Chinese buyers are playing an increasingly important role in driving the sales rebound in first-hand market But large new home supply and unsold inventory prompt developers to c

2、ontinue their volume-driven pricing strategy Moreover,growing economic uncertainty led by trade war likely to moderate home demand Despite market challenges,we like Sun Hung Kai Properties(16 HK)and Cheung Kong Asset Holdings(1113 HK).Recent stake increases in these top-tier developers by major shar

3、eholders signal their strong embedded value Growing Mainland Chinese presence.Growing Mainland Chinese presence.Taking advantage of improvement in market sentiment since Chinese New Year,developers have been expediting new project launches.With an attractive pricing strategy to lure homebuyers,proje

4、ct launches generally received favourable responses.Mainland Chinese have been buying more residential flats since the property curbs were removed in Feb-24 and play an increasingly important role in driving the sales rebound in the primary market.With rental carry expected to turn positive led by r

5、ising rental yield and lower mortgage rates,property investors,believed to be mostly Mainland Chinese buyers,are gradually returning to the market.Home prices toHome prices to trentrend lowerd lower.Large new supply over the next couple of years and considerable amount of completed and unsold invent

6、ory prompt developers to continue their volume-driven pricing strategy which should cap home prices.Rising economic risks and financial market volatility,worsened by ongoing trade tensions,are likely to moderate residential demand.However,forced selling by existing homeowners is not yet a big concer