HK Stock Market Move | LINK REIT (00823) rose more than 3% in the afternoon; interim total distributable amount up 0.4% year-on-year; distribution per unit increased to 127.25 HK cents

LINK REIT (00823) rose more than 3% in the afternoon, up 3.23% as of press time at HK$41.5, with turnover of HK$253 million. On the news front, LINK REIT announced its interim results for the period ended September this year at midday, with total distributable amount up 0.4% year-on-year to HK$3.295 billion, and distribution per unit of 127.25 HK cents, up nearly 0.3% year-on-year. Interim revenue was HK$6.909 billion, down 1.6% year-on-year, mainly due to a negative rent reversion rate in Hong Kong, reflecting the lagging recovery of essential consumer goods retail and the continued evolution of online consumption patterns. Net property income was HK$5.135 billion, down 0.8% year-on-year.