SHK PPT Examines Alleged Incidents Involving Maureen Fung and Commits to Necessary Follow-Up Measures

Positive Outlook on Real Estate: HSBC Global Research has a favorable view on the real estate sectors in Hong Kong and Singapore, citing structural factors that support this optimism.

Recommended Stocks: The report highlights five Buy-rated stocks in Hong Kong, including SHK PPT, Henderson Land, and Sino Land, along with City Developments and UOL Group in Singapore.

Market Dynamics: The Hong Kong property market is benefiting from a shift in capital away from China's adjusting property market, enhancing its attractiveness.

Singapore's Market Revitalization: Singapore has introduced a SGD5 billion policy to stimulate the stock market and attract local investment into its undervalued real estate sector.

Executive Resignation: Maureen Fung has resigned as Executive Director of SHK PPT due to health issues, effective immediately.

Corruption Allegations: Fung was previously suspended amid allegations of involvement in a corruption incident related to shopping mall operations in China.

Company's Response: SHK PPT is reviewing recent media reports concerning Fung and plans to take appropriate follow-up actions.

Market Activity: SHK PPT's stock saw a short selling of $312.91 million, with a short selling ratio of 46.460%.

Executive Resignation: Maureen Fung has resigned as an Executive Director of SHK PPT effective February 3, 2026, due to health issues.

Corruption Allegations: Fung was reportedly suspended due to her involvement in a corruption case linked to the IAPM mall in Shanghai, concerning marketing and advertising activities.

Short Selling Activity: SHK PPT has experienced significant short selling, with a total of $312.91 million and a short selling ratio of 46.460%.

Market Outlook: Citi has projected greater earnings per share upside potential for Hong Kong developers in 2026-2027, recommending SHK PPT among others.

Loan Acquisition: SHK PPT is seeking a five-year loan of at least $5 billion, with potential for a larger amount depending on bank responses, according to Bloomberg sources.

Stock Performance: The company's share price opened 0.42% higher and peaked at $123.2, closing at $122.7 with a 2% increase and a trading volume of 4.2167 million shares.

Market Overview: The HSI rose by 54 points (0.2%) to 26,830, while the HSCEI fell by 19 points (0.2%) to 9,060, and the HSTECH dropped by 72 points (1.3%) to 5,453, with a total half-day turnover of $195.285 billion.

Tech Sector Performance: Major tech stocks like TENCENT and BIDU-SW saw significant declines of 4.1% and 3.8%, respectively, with TENCENT's turnover nearing $26 billion, while other tech companies also experienced losses.

Banking Sector Gains: Banks such as HSBC and BOC HONG KONG reported gains of 2.3% and 2.5%, respectively, contributing to a positive trend in the banking sector, alongside notable increases in Chinese insurers.

Commodity and Real Estate Stocks: Commodity prices rose, with companies like ZIJIN GOLD INTL and CMOC increasing by over 4%, while Hong Kong homebuilders also saw gains, with HENDERSON LAND and SHK PPT rising by 2.1% and 1.7%.

Market Performance: The Hang Seng Index (HSI) fell by 580 points (2.1%) to 27,387, with significant declines in other indices, including HSTI and HSCEI, and a market turnover of $301.61 billion.

Active Heavyweights: Major stocks like CCB, Xiaomi, Tencent, and Alibaba experienced notable declines, with short selling ratios indicating increased market activity against these stocks.

Significant Declines: CSPC Pharma, Chinahongqiao, and Zijin Mining saw substantial drops of over 9%, reflecting a broader trend of falling stock prices among HSI and HSCEI constituents.

Gainers and New Highs: New Oriental and Huabao International were among the few gainers, with New Oriental hitting a new high, while several other stocks, including SD Gold and Jiangxi Copper, faced significant losses.