The Zhitong Finance App learned that UBS released a research report saying that it downgraded the Kerry Construction (00683.HK) rating from “buy” to “neutral”, and that the target price was lowered from HK$27 to HK$20, mainly reflecting concerns about the new policy for renewing commercial land use rights in the Mainland and the continuing weakness of the mainland office market. The bank believes that there is limited room for revaluation of the company, but a high dividend ratio of about 7% should continue to provide downward support for stock prices.

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