HK Stock Market Move | NEW WORLD DEV(00017) rose more than 3%, with the stock price temporarily showing seven consecutive rises. The full year performance will be announced this Thursday.

NEW WORLD DEV (00017) rose more than 3%, with the stock price currently showing a seven-day increase. As of the time of writing, it has risen by 3.11% to 7.95 Hong Kong dollars, with a trading volume of 68.562 million Hong Kong dollars. On the news front, NEW WORLD DEV will hold a board meeting on September 26 (this Thursday) to approve its annual performance. The company previously released a performance forecast, expecting a core operating surplus of between 6.5 billion Hong Kong dollars and 6.9 billion Hong Kong dollars for the fiscal year 2024. In addition, a Morgan Stanley research report pointed out that Hong Kong has unique advantages benefiting from the decrease in US interest rates and accelerated economic growth in the mainland. The expected rate cut by the Federal Reserve is also at historically low levels, and Hong Kong property stocks providing sustainable and high dividends are positive.