Stocks to watch: Jardine Matheson, Hongkong Land, DFI Retail, DBS, Japan Foods, Sabana Reit, LMIRT

THE following companies saw new developments that may affect trading of their securities on Friday (May 24):

Jardine Matheson Holdings : The conglomerate on Thursday said that it expects its full-year underlying profits to be “modestly down” from that for 2023, mainly due to its share of expected non-cash impairment charges in Hongkong Land’s development properties business in China, as well as lower commodity prices at Astra. Shares of Jardine Matheson fell 1.7 per cent or US$0.66 to close at US$38.45 on Thursday before the business update.

Hongkong Land : The property developer said on Thursday that it expects its underlying profit for H1 FY2024 to be “significantly lower” than in the previous financial year, on the back of slower sales in China. Buyer sentiment in China towards the residential sector has continued to deteriorate, with reduced sales and pricing, the group said. Shares of Hongkong Land ended 0.6 per cent, or US$0.02 lower at US$3.45.