Morgan Stanley said that Hong Kong office and retail rents are bottoming out and prefers Swire Properties and enterprises with increased dividend payout and buybacks.

Swire Properties has a strong balance sheet, with dividend per share up by 3% in the first half of the year and stable office occupancy rates. As such, the bank considers that Swire Properties has outperformed its peers. In the news report, it said that the Company has maintained a relatively stable office occupancy, while the office rents of SHK Properties and Hang Lung Properties have dropped by 5% and 17% respectively.