The stock price of Wharf Group (00004) continued to rise in February, rising nearly 27% during the period. The decline widened this afternoon. As of press release, it fell 5.7% to HK$27.3, with a turnover of HK$478.796 million.
The Zhitong Finance App learned that the stock price of Jiulong Cang Group (00004) continued to rise in February, rising nearly 27% during the period. The decline widened this afternoon. As of press release, it fell 5.7% to HK$27.3, with a turnover of HK$478.796 million.
According to the news, the Wharf Group issued an announcement. Mainly due to the reduction in depreciation provisions for property development, the Group expects to record a profit attributable to shareholders of between HK$500 million and HK$1 billion for the full year of fiscal year 2023, with a loss of HK$1,705 billion for the same period last year, turning a loss into a profit.
Furthermore, UBS issued a report stating that the Hong Kong government's new budget brought a positive surprise to the market. The complete abolition of residential stamp duty was in line with the expectations. At the same time, it unexpectedly announced more liquidity measures to support developers, which may provide liquidity support for highly leveraged developers, thus partially relieving the pressure on new property sales. As a result, the bank raised its forecast for this year's property prices from a 5% to 10% drop to about 5%.