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<Research>CLSA: Visitors to HK during May Day Holiday Beat; WHARF REIC, LINK REIT Preferred
Recommend 20 Positive 21 Negative 8 |
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During the May Day Golden Week holiday, visitor numbers to Hong Kong surpassed government expectations, with daily visitor traffic largely recovering to pre-pandemic holiday levels, a CLSA research report indicated. Tourist spending in local shopping malls also charted robust growth. Luxury goods retail sales fared strongly in 1Q26, evidently outperforming overall retail sales. The gradual recovery in visitor numbers, benefiting from the depreciation of the Hong Kong dollar, should continue to support the recovery of local luxury goods retail sales this year. Hong Kong's consumer base will continue to expand, the report said; at the same time, the depreciation of the HKD against the RMB and the EUR, as well as China's travel ban on Japan, should attract more luxury goods spending to Hong Kong. The broker was optimistic about WHARF REIC (01997.HK) due to its highest proportion of luxury goods sales, and LINK REIT (00823.HK) benefiting from potential fund unit buybacks and REIT Connect. The following are the broker's ratings and target prices for the relevant stocks: Stocks | Investment Ratings | Target Prices WHARF REIC (01997.HK) | Outperform | HKD40 LINK REIT (00823.HK) | Outperform | HKD49.2 Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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