00016

JD-SW Acquisition: JD-SW has agreed to acquire a 50% stake in the CCB Tower in Central, Hong Kong for HK$3.5 billion, while a local institution purchased office space in Festival Walk for HK$1.96 billion.

Office Market Outlook: Citi predicts continued demand for office space in Hong Kong, driven by Chinese companies and initiatives like the “GoGlobal Task Force” aimed at helping mainland firms expand internationally.

Central and West Kowloon Performance: Citi expects office spaces in Central and West Kowloon to outperform other areas by 2026, with potential rent stabilization for major property owners.

Competition in Causeway Bay: With record-high new supply, competition in Causeway Bay is expected to intensify, impacting projects in Hong Kong Island East while benefiting developments like Hysan Development's Lee Gardens.

Market Performance: The Hang Seng Index (HSI) rose by 446 points (1.7%) to close at 25,976, with significant gains also seen in the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI).

Active Heavyweights: Notable stocks such as Ping An, Tencent, and Alibaba experienced increases, with Ping An reaching a new high, closing at $63.75, up 3.7%.

Top Gainers: Among HSI and HSCEI constituents, China Life and CKI Holdings saw substantial gains of 5.5% and 4.5%, respectively, while several other stocks also performed well.

Notable Movements: Synagistics and Autostreets had remarkable increases of 14.6% and 12.2%, while CaoCao Inc faced a significant drop of 11.1%.