JP Morgan: Maintains "Overweight" rating on LINK REIT (00823) with a target price of 43 Hong Kong dollars.

JPMorgan released a research report stating that they are maintaining a "buy" rating for LINK REIT (00823) with a target price of HK$43. According to documents from the Hong Kong Stock Exchange, the CEO of LINK REIT, George Hongchong Wang, sold 1 million shares, approximately 0.04% of the total shares, for the first time since August 2023. The bank stated that historically, the stock price reaction has been relatively moderate. If there is a negative reaction in the stock price, they will recommend buying at a lower level, as retail sales in Hong Kong have shown signs of stability. The bank believes that potential inclusion in the Connect Program will be another catalyst, noting that the price of Link REIT's fund units is closely related to the yield of US 10-year treasury bonds. However, if more data shows that retail sales in Hong Kong are stable, the yield gap may narrow.