Hong Kong property stocks up to 0.3% w/w

They outperformed the HSI and Chinese peers.

Hong Kong property stocks rose 0.3% w/w, outperforming the HSI (+0.1% w/w) and their Chinese peers (-0.9% w/w).

According to a research note on Hong Kong property by Barclays, meanwhile, among the top-five weekly performers, Chinese property companies made up four out of five positions. China South City rose the most by 7.4% w/w, while Greenland was the worst weekly performer, down 4.2% w/w.

For the year-to-date, China South City has increased by 84% and recorded the biggest gain so far in 2014, while Greentown was the worst performer with its 37% year-to-date loss.

Here's more from Barclays:

Over the past week, developers’ FY14E, FY15E and FY16E earnings estimates were adjusted by +0.2%, -0.1%, +0.1% w/w, respectively, while landlords’ FY14E and FY16E estimates were cut by -0.1 and -0.2% w/w, respectively. There were no changes noted for the REITs.

Notable changes were for Cheung Kong, Hang Lung Properties, Kerry Properties and Wharf. Cheung Kong’s FY14E earnings estimates were raised by 1.7% w/w, while its FY15E earnings estimates were cut by 0.2% w/w. Hang Lung Properties’ FY14E and FY15E earnings estimates were cut by 0.7% and 0.4% w/w, respectively, while Kerry Properties’ FY14E and FY16E estimates were adjusted up by 0.3% and 0.7% w/w.

Wharf’s FY14E and FY16E earnings estimate were revised down by 0.4% and 0.7% w/w, while its FY15E estimates were raised by 0.1% w/w.