Shares of Hongkong Land Holdings Ltd (HKLD.SI) moved higher in Singapore on Monday, closing up 1.8% at $8.33 with trading volume reaching approximately 3.0 million shares. The stock fluctuated between $8.22 and $8.40 during the session.
The advance coincided with a broader positive sentiment in Asian equity markets, partly driven by expectations of potential interest rate reductions by the U.S. Federal Reserve later this year. Lower borrowing costs generally benefit real estate companies by reducing financing expenses and supporting asset valuations.
Hongkong Land has been actively repurchasing its own stock. Regulatory filings show the company bought back 170,000 shares on February 4 at a weighted average price of $8.6949 and another 170,000 shares on February 5 at an average of $8.5252. These purchase prices were above the stock's level during Monday's session.
Earlier this month, the property developer announced a $300 million increase to its share repurchase program, raising the total commitment to $650 million since 2024. The expanded program is scheduled to run through June 30, 2027, with the additional buybacks set to commence after the release of the company's 2025 annual results on March 5.
In a separate strategic move, Hongkong Land recently launched its first private real estate fund in Singapore, seeded with S$8.2 billion ($6.4 billion) in commercial property assets. The company aims to grow the fund's gross asset value to at least S$15 billion over the next five years, with founding investors including Qatar Investment Authority and APG.
While the share buybacks provide underlying support, the stock's performance remains sensitive to shifts in monetary policy expectations and commercial real estate market conditions. Investors are monitoring upcoming U.S. economic data for clues on the Federal Reserve's policy path ahead of Hongkong Land's annual results next month.
