Wharf Real Estate Investment Co Ltd

01997: XHKG (HKG)
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Wharf REIC: Luxury-Led Retail Recovery Supports Harbour City Outlook; Shares Undervalued

Hong Kong retail sales grew 11% year on year in the first five months of 2026, according to the Census and Statistics Department. Sales of jewelry, watches, clocks, and valuable gifts—proxy for higher-end spending, in our view—increased 26%.

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