CHEUY.PK: Cheung Kong Holdings Instablogs

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Monday, March 11, 8:43 AM Hong Kong's home purchase curbs appear to be working (or everyone did their buying before they were imposed) as just 6 units were sold over the weekend at the city's top 15 developments. It's the 2nd consecutive weak of such slow numbers. Cheung Kong Holdings (CHEUY.PK) - the largest publicly listed developer - announces price cuts of up to 11%. Comment! [Global & FX]
Monday, February 25, 11:52 AM Hong Kong property sales slumped 15% over the weekend (fromt the previous weekend) after a doubling in the sales tax last week. "The government intends to turn away yield-seeking investors from all property markets," says the team at JPMorgan. A gauge of property developers fell for its 7th consecutive session overnight. Comment! [Global & FX]
Monday, October 29, 2012, 7:14 AM Hong Kong property shares tumbled - the Hang Seng property index -3.7% - after the government imposed a tax on overseas homebuyers to try and cool the real estate market. "Some worry if these measures work, they'll hurt property sales ... if they don't work, it'll prompt more measures," says an analyst. TAO +40.8% YTD. Comment! [Global & FX]
Wednesday, December 28, 2011, 12:31 PM S&P withdraws its credit rating (previously A-) on property developer Cheung Kong Holdings (CHEUY.PK) as the company has been busy making acquisitions but hasn't given the ratings group the access it needs make its assessments. The company, controlled by Li Ka-Shing, has seen its stock decline 24% this year. 1 Comment [Global & FX]
Thursday, April 21, 2011, 9:39 AM Hong Kong real estate developers are hoping/praying for a big Easter weekend as rising mortgage rates and what appears to be the long anticipated break in prices has slowed demand. Property shares have significantly underperformed the HSI over the past 6 months. Comment! [Global & FX]
Tuesday, March 1, 2011, 1:29 PM On Sunday it seemed that Hong Kong billionaire Li Ka-shing was close to buying E.On's (EONGY.PK) U.K. power assets for $6B; now CNBC says American supplier PPL (PPL -1.7%) is close to a purchase, for $6B in cash. PPL bought Kentucky assets from E.On last year, in the biggest power-sector deal in years. Comment! [Global & FX]
Sunday, February 27, 2011, 1:04 PM Hong Kong billionaire Li Ka-shing is said to be closing in on a £3.7B ($6B) deal to buy E.On's (EONGY.PK) U.K. power networks, edging out PPL Corp. (PPL), the last remaining rival in the auction. Comment!
Wednesday, December 22, 2010, 8:34 AM In another small step forward for the renminbi, Li Ka-shing is preparing Hong Kong's first yuan-denominated IPO. Li's Cheung Kong Holdings (CHEUY.PK) rise 3.4% in Hong Kong after news that it will sell $1.5B in shares of a REIT backed by a development in Beijing. Comment! [Global & FX]
Tuesday, December 21, 2010, 9:51 AM Government efforts to cool Hong Kong's bubbly property market are having success, with estimated price declines of 3%-5% last month. Cheung Kong (CHEUY.PK), used to selling off entire apartment buildings within weeks, sees sales slow to a trickle at its latest development. Comment! [Global & FX]
Monday, November 22, 2010, 7:49 AM Steps taken by Hong Kong authorities to rein in their roaring property market appear to working. Weekend sales of homes fell 83% from the previous week after stamp duties and down payment requirements were raised. Property developer Cheung Kong Holdings (CHEUY.PK) fell more than 3% and Midland Holdings, the city's largest realtor, fell by 15%. 1 Comment [Global & FX]

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