China Covid curbs easing unlikely to help HPH Trust in near term

INVESTORS are cheering China’s easing of curbs that had been in place since the Covid pandemic struck, expecting that stocks dependent on the world’s second-largest economy would benefit.

Would Hutchison Port Holdings Trust (HPHT), which operates the Yantian port in the southern China city of Shenzhen and derives about 70 per cent of its revenue from mainland China, be one of them?

DBS, in a research note, wrote that November’s contraction in manufacturing and new export orders in China could have a short-term negative impact on HPHT’s share price.