Hang Lung property Rose 5.31%

Hang Lung Real Estate (00101-HK) rose 5.31% per half and reported HK $23.80 to a deal of HK $116 million, which won the big city in early trading, and the index rose 3.03% and reported 17538.69 points. Citi maintained its buying rating and raised its target price from HK $31.30 to HK $36.53, mainly because the group's recent acquisitions in Wuxi and Dalian would raise the estimated net asset value.　　Citi said the unit's current valuation of a relatively new estimated net asset value of HK $45.66 to 33%, given the visible value of equity growth prospects, the valuation level is attractive. The bank also out, as of December 31, the company's net debt equity ratio of only 3.6%, is the Hong Kong and mainland property developers in the lowest debt ratio of companies. Citi believes this will provide ample ammunition for companies to acquire new investment opportunities in China and Hong Kong.