Fitch raises Sun Hung Kai outlook, expects rents to keep rising

Fitch has upgraded the outlook on Sun Hung Kai Properties (0016) from "stable" to "positive", expecting the developer's rental income to continue rising as more investment properties come on stream and a recovery in Hong Kong's office market supports rental growth. Fitch also said Sun Hung Kai's large, high-quality investment property portfolio can provide stable recurring income, cushioning potential volatility in its residential business.