Dear readers, in my post yesterday, I shared how Mapletree North Asia Commercial Trust was under selling pressure due to damage caused by the HongKong protests to its Festival Walk shopping mall. Well, the Mapletree Trust was not the only Hong Kong stock under selling pressure. Just look at another real estate listed entity on the local bourse here with business focused on Hong Kong: HongKong Land stock.
HongKong Land stock closed 3.39% down yesterday to $5.41, close to its 52-week low of $5.16. At the current price, HongKong land is rather undervalued at 0.339 Price-to-Book ratio and with a dividend yield of 3.929%. The major controlling stakeholder in HongKong Land, Jardine Strategic Holdings, also a SGX-listed entity also went south by 3.939%. Based on the ongoing developments in Hong Kong, I don’t think it is wise to go bargain hunting for Hong Kong stocks since there is no clarity in how the developments in Hong Kong are going to be resolved right now.
Hong Kong is a beautiful place and I have visited the country twice with my wife. It saddens me to see Hong Kong in its chaotic state right now.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! I also run another blog Singapore Stocks Investing with similar useful insights! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
BINGE READ ALL POSTS!
Visit Home Page for more reads or Connect here!