[ET Net News Agency, 3 October 2019] HK retail sales for August declined 23%, the
deepest decline ever. Luxury retail sales declined 47%, deepest ever too.
Morgan Stanley said its recent channel checks suggest that retail sentiment in September
seems to be mildly better than August. However, visibility for October momentum is low
given higher base (October 2018 retail sales were up 6%, versus +2% in September 2018),
partly due to the opening of High-Speed Rail in late September 2018.
Meanwhile, the Immigration Department announced that on 1 October there were only 93K
mainland visitor arrivals, down 62%. Including other visitors, visitor arrivals dropped
60%.
The research house remains cautious about luxury retail malls landlords, Wharf REIC
(01997) and Hysan Development (00014) which are more exposed to tourist spending. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01997 WHARF REIC
Nominal 
22.750 0.000 (0.000%) Others
03/10/2019 15:16
{I-bank focus}Retail sentiment in Sep mildly better than Aug
| Remark: | Real time quote last updated: 19/04/2024 08:35 |
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