Nomura expects a cumulative decline of 10% in Hong Kong property prices this year and next two years, while lowering the stock prices of many developers, including Changji Real Estate (01113-HK), Sun Hung Kai Properties (00016-HK), Kerry Properties (00683-HK) and Sino Properties (00083-HK).
The new target price for Nomura and Shinchi was 129.4 yuan, the target price for Ye Changshi's new target price was 60.3 yuan, Kerry's new target price was 25.9 yuan, and the credit target price dropped to 14.8 yuan.