According to a report from Morgan Stanley, Hong Kong's total retail sales for May grew by 2.4% YoY to HKD31.3 billion (-2.3% YoY in April 2025), snapping a 14-month streak of YoY contraction since March 2024 and beating the broker's forecast of a 2% YoY decline.Meanwhile, the YoY decline in retail sales for 5M25 continued to narrow to 4% (-5.6% YoY in 4M25). Durable goods also showed dramatic improvement, though luxury retail sales were still stuck in a downtrend.Related NewsHSBC Global Research Ratings, TPs on Landlords (Table)While maintaining a cautious stance on WHARF REIC (01997.HK) +0.250 (+1.037%) Short selling $36.66M; Ratio 15.850% and HYSAN DEV (00014.HK) +0.120 (+0.803%) Short selling $2.50M; Ratio 6.446% due to negative rental growth and store closures, Morgan Stanley believes that the positive retail sales data recorded for the first time in 14 months may have a benign impact on their stock prices.WHARF REIC opened 2% higher today and once peaked at HKD24. It last traded at HKD23.85, up 5.76%, with a volume of 2.7952 million shares, involving HKD65.8768 million.HYSAN DEV opened flat today and once climbed to a peak of HKD14.98. It was last at HKD14.72, up 1.52%, with a volume of 1.7847 million shares, involving HKD26.4949 million. Related NewsJPM Upgrades WHARF REIC to Overweight, Lifts LINK REIT's TP to HKD49Hysan Development opened flat today, peaking at HKD 14.98. It is currently at HKD 14.72, up 1.52%, with a trading volume of 1.7847 million shares, amounting to HKD 26.4949 million.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-04 16:25.)