[ET Net News Agency, 11 October 2018] Nomura said Hong Kong's Chief Executive Carrie
Lam's second Policy Address shifted from short-term housing policies last year to
longer-term land supply directives this year.
The research house received the "Lantau Tomorrow Vision" positively as a longer-term
powerful tool to relieve the land shortage pressure. But it should take at least one
decade before the new residential supply from this master plan are seen.
In short, Nomura thinks the delivery of Policy Address has limited impact on property
stocks. It expects the physical market (both price and volume) to be more driven by
mortgage rate movement in the short term. (KL)