The Zhitong Finance App learned that MTR Corporation (00066) fell by more than 3% in the afternoon. As of press release, it was down 2.84% to HK$25.65, with a turnover of HK$128 million.

According to the news, UBS released a research report saying that while spending in the north has recently posed challenges to the retail industry, tenant sales in the first quarter fell by only 1% year on year, outperforming Hong Kong as a whole. The mall's performance outperformed the station store. Local non-essential consumer goods are still performing well, while makeup and fashion are lagging behind. Driven by the strong performance of high-end luxury brands, high-end shopping malls outperformed.

In terms of passenger transportation, passenger traffic from the mainland has not fully recovered, and passenger traffic has recovered to 90% before the epidemic. The bank expects the passenger transport business's operating EBIT loss to narrow further, but even if passenger volume returns to 2018 levels, cost inflation is still a concern. Rated “for sale” by the MTR Corporation, the target price is HK$21.4.