JPMorgan recently released a report, assuming a 100 basis point cut in interest rates, which is expected to have a sensitivity analysis on the core earnings of Hong Kong property stocks for 2025 (impact), calculated based on a fixed debt ratio:

Stocks│The impact of a 100 basis point cut in interest rates on core earnings next year:

New World Development (00017.HK)│+548.5%

Henderson Land (00012.HK)│+10.1%

Hang Lung Properties (00101.HK)│+7.5%

Wharf Real Estate Investment Company (01997.HK)│+4.2%

SHK PPT (00016.HK)│+3.1%

Link REIT (HKLD.SI)│+2.9%

link (00823.HK)│+2.2%

CK Asset (01113.HK) │ +2%

Swire Properties (01972.HK) │ +1.4%

Sino Land (00083.HK) │ + 0.1%

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The bank also listed that if the interest rate is reduced by 100 basis points, it is expected that the financial cost savings forecast for Hong Kong property stocks in 2025 will be reduced according to the fixed debt ratio calculation.

Shares │ The forecast for the reduction of financial costs for next year if the interest rate is reduced by 100 basis points

New World Development │ HKD 1.305 billion

henderson land │1.095 billion yuan

shk ppt │0.874 billion yuan

wharf reic │0.321 billion yuan

ck asset │0.32 billion yuan

hang lung ppt │0.314 billion yuan

link reit │0.181 billion yuan

landmark │0.175 billion yuan

swireproperties │0.139 billion yuan

Sino Land │ 8 million yuan