SHK Property: caution recommended despite development on mainland market

Sun Hung Kai Properties Ltd.(0016) announced half-year as-expected results ended last Dec , making profit of HK$5301 mln , up no more than 0.1%.In earnings post meeting, SHKP said it would reinforce property development in mainland including Beijing, Shanghai, Shenzhen and Guangzhou and a new property development project would be announced in short terms.According to reports, the period of new development project would last nearly 10 years involving 10,000 units.The project enjoys significant meanings for it is a turn point of SHKP ¡¥s investment policies.The long term investment in mainland injects new momentums of SHKP .Following the adjustment of Universal stock market, investors should keep wait-to-see sentiment towards SHKP to absorb at low level. 

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