Latest news with #PraveenChoudhary
South China Morning Post
5 hours ago
- Business
- South China Morning Post
Hong Kong home market on brink of turnaround, Morgan Stanley says
Hong Kong's residential property segment is on the verge of a turnaround that could last between four and five years, with home prices likely to rise starting in the second half of the year, according to Morgan Stanley. Advertisement The US investment bank said the first half of the year would end with prices down 2 per cent from a year earlier, while prices in the second half would rise 2 per cent year on year. The call essentially moves the recovery forward in time and smooths it out compared with the previous forecast, which called for a 5 per cent first-half decline followed by a 5 per cent second-half rise. This recovery was also likely to be sustained next year, said Praveen Choudhary, head of Hong Kong real estate research at Morgan Stanley and author of the report released on Friday. 'While we may be early, we see several reasons to be optimistic that we could be at the onset of an upcycle,' he said. The city's residential market had suffered through seven years of volatility, as prices hit a peak in July 2018, declined and then climbed back to another peak in September 2021, and since then have fallen nearly 30 per cent, according to official data. Advertisement 'The decline in prices is behind us, and from here on we expect positive price increases,' Choudhary said.
Business Times
7 hours ago
- Business
- Business Times
Morgan Stanley says Hong Kong's housing sector bottoming out
[HONG KONG] Hong Kong's residential property market is poised for a recovery after enduring a seven-year downturn, according to Morgan Stanley. Home prices in the city are set to bottom out, driven by an influx of mainland Chinese buyers, improved capital markets and a recent plunge in interest rates, analysts led by Praveen Choudhary said in a report dated June 19. 'While we may be early, we see several reasons to be optimistic that we could be at the onset of an up cycle, which could last four to five years,' the analysts said. Mainland buyers are bolstering Hong Kong's residential market, as the city's rental yields now surpass those in tier-one Chinese cities, fuelling increased investment demand. Additionally, a recovering capital market is generating a wealth effect that further supports housing demand, they added. The lower interest rates will also support the market. The one-month Hong Kong Interbank Offered Rate is hovering at the lowest level in three years after plunging last month. However, challenges remain with a surging number of unsold apartment inventory, rising underwater mortgage cases, and an increasing unemployment rate in the city, according to the report. Some developers will still have a hard time operating despite a recovering market. The bank cautions on New World Development because of its liquidity crunch. Morgan Stanley expects home prices to stop their decline and grow 2 per cent in the second half of the year. BLOOMBERG
Bloomberg
10 hours ago
- Business
- Bloomberg
Morgan Stanley Says Hong Kong's Housing Sector Is Bottoming Out
Hong Kong's residential property market is poised for a recovery after enduring a seven-year downturn, according to Morgan Stanley. Home prices in the city are set to bottom out, driven by an influx of mainland Chinese buyers, improved capital markets and a recent plunge in interest rates, analysts led by Praveen Choudhary said in a report dated June 19.
Business Insider
13 hours ago
- Business
- Business Insider
Morgan Stanley downgrades Swire Pacific (SWRAF) to a Hold
Swire Pacific (SWRAF – Research Report) received a Hold rating and a HK$71.00 price target from Morgan Stanley analyst Praveen Choudhary today. The company's shares closed last Tuesday at $8.53. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Choudhary is a 3-star analyst with an average return of 2.4% and a 50.85% success rate. The word on The Street in general, suggests a Hold analyst consensus rating for Swire Pacific. Based on Swire Pacific's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $42.41 billion and a net profit of $407 million. In comparison, last year the company earned a revenue of $43.28 billion and had a net profit of $24.63 billion
Business Insider
02-06-2025
- Business
- Business Insider
Morgan Stanley Remains a Buy on Prestige Estates Projects Limited (PRESTIGE)
Morgan Stanley analyst Praveen Choudhary maintained a Buy rating on Prestige Estates Projects Limited (PRESTIGE – Research Report) on May 30 and set a price target of INR1,700.00. The company's shares closed last Friday at INR1,484.00. Confident Investing Starts Here: According to TipRanks, Choudhary is a 3-star analyst with an average return of 1.8% and a 49.15% success rate. Choudhary covers the Consumer Cyclical sector, focusing on stocks such as Melco Resorts & Entertainment, Galaxy Entertainment Group, and Wynn Macau. Currently, the analyst consensus on Prestige Estates Projects Limited is a Moderate Buy with an average price target of INR1,825.00, implying a 22.98% upside from current levels. In a report released on May 31, Jefferies also maintained a Buy rating on the stock with a INR1,700.00 price target. Based on Prestige Estates Projects Limited's latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of INR20.25 billion and a net profit of INR2.33 billion. In comparison, last year the company earned a revenue of INR16.81 billion and had a net profit of INR2.67 billion
