On August 31, SHK PPT fell 3.45% in regular trading, trading at HK$116.7 per share, with turnover of HK$131 million. The decline came amid broad-based selling pressure across the Hong Kong property sector triggered by renewed hawkish signals from the U.S. Federal Reserve.

Fed Chair Waller delivered a hawkish speech at the Jackson Hole symposium, warning that inflation remains too high and signaling readiness for further rate tightening. Traders have now fully priced in a Fed rate hike by October, with the year-end rate projected at 3.75%-4.00%. The prospect of higher interest rates places significant pressure on rate-sensitive sectors, with Hong Kong property stocks broadly declining — Shoucheng fell 4.14%, Kerry Properties dropped 2.98%, and Wharf Holdings slid 2.40%.

Morgan Stanley had previously downgraded SHK PPT to Equal Weight, citing the Centaline City Leading Index year-on-year gain peaking, and set a target price of HK$121. The current share price has now fallen below that target level, reflecting mounting headwinds for Hong Kong developers despite multiple brokerages maintaining a constructive medium-term outlook on the city's residential market recovery.

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