HK Stock Market Move | WHARF HOLDINGS (00004) rises nearly 5% as institutions point out its luxury home business is being overlooked and are optimistic about the prospects of the "1 Plantation Road" project.

WHARF HOLDINGS (00004) rose nearly 5%, as of the time of writing, up 4.78% to 21.9 Hong Kong dollars, with a turnover of 5.3157 million Hong Kong dollars. In terms of news, DBS released a research report stating that WHARF HOLDINGS' luxury real estate business has been overlooked by the market, and its luxury projects in The Peak and Kowloon Tong should bring substantial returns after completion. In addition, planned redevelopment projects will unlock the value of Nine Dragons' land in Yau Tong. The bank pointed out that following the recent sale of luxury properties at 77/79 Peak Road, Nine Dragons plans to launch another super luxury project "No. 1 Planting Road" this year, with the development expected to be a major profit driver for the company in the coming years. The bank believes that if Nine Dragons' residential projects in The Peak, Kai Tak, and Kowloon Tong are well received by the market, it will drive up its stock price.