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<Research>BOCOMI: H-REITs Inclusion into SH-/ SZ-HK Stock Connect Expected to Receive Re-rating
Recommend 27 Positive 53 Negative 19 |
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The China Securities Regulatory Commission (CSRC) will deepen its cooperation with Hong Kong, and adopt five measures to further expand and optimize the Shanghai-/ Shenzhen-Hong Kong Stock Connect mechanism, helping Hong Kong to consolidate and enhance its status as an international financial center, so as to jointly promote the synergistic development of the capital markets of mainland China and Hong Kong, BOCOMI released a research report saying. BOCOMI believed that the inclusion into the Shanghai-/ Shenzhen-Hong Kong Stock Connect will bring purchasing power to H-REITs, and provide support to the short-term share prices, which are expected to receive a re-rating. In addition, BOCOMI expected the inclusion into the Shanghai-/ Shenzhen-Hong Kong Stock Connect to boost the long-term liquidity of H-REITs. Other than LINK REIT (00823.HK), many H-REITs previously struggled to attract institutional investors to open their positions due to the lack of liquidity, even though their expected dividend yield reached about 10%. In terms of market capitalization, LINK REIT is currently the largest REIT in Hong Kong and Asia. Therefore, BOCOMI kept its target price at $48.7, with rating at Buy. AAStocks Financial News |
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