Dear readers, HongKong Land was the star performer of the STI constituent stocks as well as of Singapore stocks as a whole yesterday as the stock rocketed 8.27% to close at $5.89 as Hong Kong leader Carrie Lam announced plans to repeal the much scrutinised extradition bill.
Since reading a multi-year low of $5.16 on 13 Aug 2019, yesterday’s showing of HongKong Land stock was a great showing for the stock. Technically-speaking, since crossing the 200-Days-Moving-Average from above in May 2019, HongKong Land stock has been in a downtrend and hence yesterday’s showing may be the sign of a reversal of the stock’s downward trend.
Fundamentally, HongKong Land is undervalued at just 0.331 Price-to-Book with a 4.044% dividend yield. And with a modest Return-On-Equity of 6.536%.
HongKong Land stock is likely to rally more if there are more bright spots on the Hong Kong front. But should the Hong Kong population remain unhappy with the government and if the protests continue to proceed in breadth and depth, then HongKong Land seen as a proxy on Hong Kong -related stock may continue to underperform.
For long-term investors who loved undervalued stock, steady decent dividends and some action, they may just want to invest a bit into HongKong Land stock. Else, waiting for buying opportunities to come from many other good stocs may be another good proposition.
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