HK Stock Market Move | HENDERSON LAND (00012) rises more than 3%, Goldman Sachs upgrades company rating and target price.

HENDERSON LAND (00012) rose more than 3%, up 3.18% at the time of writing, at 33.74 Hong Kong dollars, with a turnover of 3.69 billion Hong Kong dollars. On the news front, Goldman Sachs released a research report stating that it has raised its forecast for Hong Kong property price growth from 5% to 12% this year, expecting government visa and immigration policies to drive demand. In addition, strong rental growth (accumulating by about 20% from 2023 to 2025), along with declining mortgage rates, may lead more people to "rent to buy". Since the cooling measures were removed at the beginning of the 2024 fiscal year, transaction costs have significantly decreased, which may also stimulate investment demand. The bank predicts that future government policies will continue to support population growth, income growth, and housing affordability. In terms of stock holdings, the bank has upgraded Henderson Land from "sell" to "buy", believing that it is better positioned to benefit from the uptrend in the Hong Kong residential market, with a target price raised to 39 Hong Kong dollars.