0233 GMT - Link REIT's Hong Kong and China retail portfolios could still face challenges in 2H, say UOB Kay Hian's Liu Jieqi and Damon Shen in a note. Sales at the REIT's tenants lagged behind the market due to their higher reliance on discretionary spending, the analysts say. With competition from Chinese e-commerce platforms, they expect rents in the REIT's Hong Kong retail portfolio to be renewed at a lower rate in FY 2026. They are also cautious on rental rates for leases up for renewal at some Chinese malls, citing increased competition. They cut their FY 2026-FY 2028 earnings forecasts for Link by 2.6%-4.2%. UOB KH trims its target price to HK$43.20 from HK$48.48. Units rise 0.8% to HK$36.88. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

November 24, 2025 21:33 ET (02:33 GMT)

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