Sino Land +4,1%

Sino Land (0083.HK: Quote, Profile , Research) shot up 4.1 percent to HK$21.5, having earlier hit a record high, and Henderson Land (0012.HK: Quote, Profile , Research) raced up nearly 3 percent to HK$63.  

Sun Hung Kai, the No. 1 Hong Kong-listed property developer by market value, climbed HK$7.20, or 6.2 percent, to HK$123.10, heading for a record close. Sino Land, the seventh-largest, climbed HK$1.60, or 7.9 percent, to HK$21.80, also set for a record.

 

Sino Land (0083.HK: Quote, Profile , Research) surged 9.6 percent to HK$24 in heavy trade, earlier having set a new peak amid its recent acquisition spree. Sun Hung Kai Properties (0016.HK: Quote, Profile , Research) advanced 1.6 percent to HK$150, having earlier hit a record high  

Investors snapped up interest rate-sensitive property issues, with shares of Sun Hung Kai Properties (0016.HK) jumping 2.71 percent to HK$159.20, and

Sino Land (0083.HK) surging 2.69 percent to HK$26.75  

The Group reported strong interim profit.

Net profit for the six months ended 31 December 2007 rose 211% to $4.73 billion.


Strong property sales were the main contributing factors. The share is oversold and now is the time for bargain hunting.

Buy $16.40 Target $20.00 , Cut loss $14.00