SHK PPT (00016) rose more than 3%, temporarily leading the gains among blue-chip stocks. As of the time of writing, the stock was up 3.11% to HK$102.7, with a turnover of HK$590 million. Recently released data from the Hong Kong Special Administrative Region Government's Land Registry shows that the total number of building sale and purchase agreements registered in Hong Kong for the full year 2025 reached 80,702, a four-year high. The total value of all building sale and purchase agreements in Hong Kong for 2025 was HK$614.277 billion, an increase of 15% year-on-year. Among these, residential building transactions accounted for 62,832 registrations, with a total value of HK$519.83 billion, representing year-on-year increases of 18.3% and 14.4%, respectively. As 2026 progresses, the heat in the Hong Kong property market has continued. Midland IC&I analyst Cen Songqian stated that driven by the strong sales of new developments in Sai Kung and the launch of multiple projects, primary new home transactions in Hong Kong this month are expected to exceed 2,000 units. Morgan Stanley anticipates a 10% rise in Hong Kong residential property prices this year, citing increased demand from mainland buyers, inventory drawdown, limited supply, and declining interest rates. Furthermore, an influx of talent has contributed to robust rental performance, implying higher yields and positive carry, which also stimulates additional investment demand; the firm expects rental growth of 5% this year. Concurrently, the wealth effect generated by the rise in the Hang Seng Index also helps support property prices. The investment bank has raised the target prices for several property stocks, with SHK PPT among its top picks, increasing its target price from HK$105 to HK$120.