{"ticker": {"uuid": "fdf6e60f-26b0-4d72-8905-e604a75d554e", "symbol": "1426", "name": "Spring Real Estate Investment Trust", "exchange": "HKG", "asset_type": "equity"}, "latest_week": "2026-06-12", "summary": "1426 closed the latest completed week at 1.20 HKD. The 4-week return is -11.1% and the 12-week return is -26.9%. Trend Signal is inactive, Market Dynamics is -1.42.", "description": "Spring Real Estate Investment Trust (Spring REIT) is a real estate investment trust. It is constituted by a trust deed as amended and supplemented by the first supplemental deed dated 22 May 2015, the First Amending and Restating Deed dated 28 May 2021 and the Second Amending and Restating Deed dated 20 September 2024 (collectively, the Trust Deed) between Spring Asset Management Limited and DB Trustees (Hong Kong) Limited, as trustee of Spring REIT (the Trustee). Units of Spring REIT (the Units) were first listed on The Stock Exchange of Hong Kong Limited (the Stock Exchange) on 5 December 2013. Spring REIT offers investors direct exposure to two premium office buildings strategically located in Beijing Central Business District (Beijing CBD) through its ownership in China Central Place Office Tower 1 and 2 (and the relevant portion of the car park) (the CCP Property) and to a landmark shopping mall Huamao Place in Huizhou, located in Greater Bay Area, which comprises seven-storey shopping mall and 750 carpark spaces (the Huamao Place). Spring Real Estate Investment Trust was established on November 14, 2013 and incorporated in Hong Kong.", "setup_signature": "Risk-first tape", "composite_score": "11", "kpis": [{"label": "Latest Close", "value": "1.20 HKD", "hint": "2026-06-12"}, {"label": "1W Return", "value": "1.7%", "tone": "positive", "hint": "latest completed week"}, {"label": "4W Return", "value": "-11.1%", "tone": "negative", "hint": "short-term follow-through"}, {"label": "12W Return", "value": "-26.9%", "tone": "negative", "hint": "quarterly tape"}, {"label": "Trend Breadth", "value": "9.6%", "hint": "5 of 52 weeks active"}, {"label": "Volume Ratio", "value": "0.3x", "hint": "vs 13-week average"}], "classification": {"exchange": "HKG", "country": "HK", "sector": "Real Estate", "industry": "Reit - Diversified", "currency": "HKD", "market_cap": "1.8B"}, "price": {"trend_line": "1.51 HKD", "fair_value": "1.62 HKD", "vs_trend": "-20.4%", "vs_fair_value": "-25.7%", "high_52": "1.72 HKD", "low_52": "1.16 HKD", "drawdown": "-30.2%", "range_position": "7.2%"}, "momentum": {"returns": [{"label": "1W", "value": 1.6949152542372898, "value_label": "1.7%", "tone": "positive", "width": 4.842615012106542}, {"label": "4W", "value": -11.11111111111112, "value_label": "-11.1%", "tone": "negative", "width": 31.746031746031772}, {"label": "12W", "value": -26.861689970360704, "value_label": "-26.9%", "tone": "negative", "width": 76.74768562960202}, {"label": "26W", "value": -24.152882506494414, "value_label": "-24.2%", "tone": "negative", "width": 69.00823573284119}, {"label": "52W", "value": -23.04298305919534, "value_label": "-23.0%", "tone": "negative", "width": 65.83709445484382}], "trend_streak": 0, "active_weeks": 5, "active_breadth": "9.6%", "peer": {"scope": "HK Real Estate", "count": 249, "rank": 53, "percentile": 79.03225806451613, "avg_weekly_return": -1.394328138914688}}, "setup": {"scores": [{"label": "Trend", "value": 5.288461538461539, "value_label": "5", "width": 5.288461538461539, "tone": "negative", "description": "Persistence of active Trend Signal over the last year and current streak."}, {"label": "Momentum", "value": 0.26892347111979475, "value_label": "0", "width": 4, "tone": "negative", "description": "Blend of 4-week and 12-week follow-through."}, {"label": "Dynamics", "value": 24.586118264158845, "value_label": "25", "width": 24.586118264158845, "tone": "negative", "description": "Latest Market Dynamics and whether pressure has improved over four weeks."}, {"label": "Relative Strength", "value": 0, "value_label": "0", "width": 4, "tone": "negative", "description": "Relative leadership and short-term RS change."}, {"label": "Volume", "value": 14.545546630471117, "value_label": "15", "width": 14.545546630471117, "tone": "negative", "description": "Participation compared with the 13-week volume baseline."}, {"label": "Risk Control", "value": 22.447650383661284, "value_label": "22", "width": 22.447650383661284, "tone": "negative", "description": "Drawdown and recent weekly volatility pressure."}], "timeline": [{"week": "27 Feb", "return": 2.976180680881088, "return_label": "3.0%", "tone": "positive", "trend": true, "buy_signal": false, "positive_md": true, "height": 24.801505674009064}, {"week": "6 Mar", "return": -0.5780209972075502, "return_label": "-0.6%", "tone": "negative", "trend": true, "buy_signal": false, "positive_md": true, "height": 4.816841643396252}, {"week": "13 Mar", "return": -2.3255855486869748, "return_label": "-2.3%", "tone": "negative", "trend": true, "buy_signal": false, "positive_md": true, "height": 19.379879572391456}, {"week": "20 Mar", "return": 0.0, "return_label": "0.0%", "tone": "neutral", "trend": true, "buy_signal": false, "positive_md": true, "height": 4}, {"week": "27 Mar", "return": -5.357137415304312, "return_label": "-5.4%", "tone": "negative", "trend": true, "buy_signal": false, "positive_md": true, "height": 44.6428117942026}, {"week": "3 Apr", "return": -0.6289158317936828, "return_label": "-0.6%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": true, "height": 5.240965264947357}, {"week": "10 Apr", "return": -2.5316496712711327, "return_label": "-2.5%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 21.09708059392611}, {"week": "17 Apr", "return": -4.255319148936175, "return_label": "-4.3%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 35.460992907801455}, {"week": "24 Apr", "return": -5.555555555555546, "return_label": "-5.6%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 46.29629629629621}, {"week": "1 May", "return": -2.2058823529411784, "return_label": "-2.2%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 18.382352941176485}, {"week": "8 May", "return": -2.2556390977443628, "return_label": "-2.3%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 18.796992481203024}, {"week": "15 May", "return": 3.8461538461538494, "return_label": "3.8%", "tone": "positive", "trend": false, "buy_signal": false, "positive_md": false, "height": 32.05128205128208}, {"week": "22 May", "return": -3.703703703703707, "return_label": "-3.7%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 30.864197530864224}, {"week": "29 May", "return": -3.8461538461538494, "return_label": "-3.8%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 32.05128205128208}, {"week": "5 Jun", "return": -5.600000000000005, "return_label": "-5.6%", "tone": "negative", "trend": false, "buy_signal": false, "positive_md": false, "height": 46.66666666666671}, {"week": "12 Jun", "return": 1.6949152542372898, "return_label": "1.7%", "tone": "positive", "trend": false, "buy_signal": false, "positive_md": false, "height": 14.124293785310748}]}, "groups": {"sector": {"scope": "HK Real Estate", "count": 100, "avg_weekly_return": -1.4419901623168982, "avg_four_week_return": -9.103308774057155, "avg_twelve_week_return": -2.9762103222362066, "trend_breadth": 30.0, "positive_md_breadth": 30.0, "positive_rs_breadth": 52.0, "week_rank": 15, "four_week_rank": 63, "twelve_week_rank": 93, "top_peers": [{"id": 42098, "symbol": "2271", "name": "Zhong An Intelligent Living Service Limited", "exchange": "HKG", "url": "/terminal/ab9942f7-9fee-4101-be6d-29cd978bc7a2/report/", "weekly_return": 5.8839297681276035, "weekly_return_label": "5.9%", "weekly_return_tone": "positive", "four_week_return": 18.086167027651598, "four_week_return_label": "18.1%", "four_week_return_tone": "positive", "twelve_week_return": 19.245283018867934, "twelve_week_return_label": "19.2%", "twelve_week_return_tone": "positive", "trend_active": true, "positive_md": true, "positive_rs": true}, {"id": 42924, "symbol": "3380", "name": "Logan Group Company Limited", "exchange": "HKG", "url": "/terminal/05b2eca1-a450-4013-922e-e594aba3a06f/report/", "weekly_return": 5.51724137931035, "weekly_return_label": "5.5%", "weekly_return_tone": "positive", "four_week_return": 17.69230769230769, "four_week_return_label": "17.7%", "four_week_return_tone": "positive", "twelve_week_return": 17.69230769230769, "twelve_week_return_label": "17.7%", "twelve_week_return_tone": "positive", "trend_active": false, "positive_md": true, "positive_rs": true}, {"id": 42476, "symbol": "2602", "name": "Onewo Inc.", "exchange": "HKG", "url": "/terminal/50c4c4bd-f190-4343-9bb3-d40b2ba4c3d0/report/", "weekly_return": 10.410094637223978, "weekly_return_label": "10.4%", "weekly_return_tone": "positive", "four_week_return": 16.731517509727638, "four_week_return_label": "16.7%", "four_week_return_tone": "positive", "twelve_week_return": 23.780934623861572, "twelve_week_return_label": "23.8%", "twelve_week_return_tone": "positive", "trend_active": false, "positive_md": true, "positive_rs": true}, {"id": 40595, "symbol": "1009", "name": "International Entertainment Corporation", "exchange": "HKG", "url": "/terminal/3710e5a0-b127-4e34-91a9-a64d9c315aeb/report/", "weekly_return": 3.5460992907801447, "weekly_return_label": "3.5%", "weekly_return_tone": "positive", "four_week_return": 13.178294573643404, "four_week_return_label": "13.2%", "four_week_return_tone": "positive", "twelve_week_return": 23.728813559322038, "twelve_week_return_label": "23.7%", "twelve_week_return_tone": "positive", "trend_active": true, "positive_md": true, "positive_rs": true}, {"id": 39330, "symbol": "0147", "name": "International Business Settlement Holdings Limited", "exchange": "HKG", "url": "/terminal/0a4b9042-a86a-4001-895d-c90919ccaf95/report/", "weekly_return": -8.108108108108098, "weekly_return_label": "-8.1%", "weekly_return_tone": "negative", "four_week_return": 11.475409836065584, "four_week_return_label": "11.5%", "four_week_return_tone": "positive", "twelve_week_return": 3.030303030303033, "twelve_week_return_label": "3.0%", "twelve_week_return_tone": "positive", "trend_active": false, "positive_md": true, "positive_rs": false}]}, "industry": {"scope": "HK Reit - Diversified", "count": 3, "avg_weekly_return": -0.6114988368228653, "avg_four_week_return": -7.469918681762253, "avg_twelve_week_return": -13.707929837218432, "trend_breadth": 0.0, "positive_md_breadth": 0.0, "positive_rs_breadth": 33.33333333333333, "week_rank": 1, "four_week_rank": 3, "twelve_week_rank": 3, "top_peers": [{"id": 39785, "symbol": "0435", "name": "Sunlight Real Estate Investment Trust", "exchange": "HKG", "url": "/terminal/664eac86-6442-4496-95d0-7550f22b39ae/report/", "weekly_return": 0.0, "weekly_return_label": "0.0%", "weekly_return_tone": "neutral", "four_week_return": -3.433476394849788, "four_week_return_label": "-3.4%", "four_week_return_tone": "negative", "twelve_week_return": -6.972359627492512, "twelve_week_return_label": "-7.0%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": true}, {"id": 44259, "symbol": "87001", "name": "Hui Xian Real Estate Investment Trust", "exchange": "HKG", "url": "/terminal/7f8a2f08-d1f5-4381-9a79-532ebd8cba25/report/", "weekly_return": -3.529411764705886, "weekly_return_label": "-3.5%", "weekly_return_tone": "negative", "four_week_return": -7.8651685393258495, "four_week_return_label": "-7.9%", "four_week_return_tone": "negative", "twelve_week_return": -7.28973991380208, "twelve_week_return_label": "-7.3%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}, {"id": 41194, "symbol": "1426", "name": "Spring Real Estate Investment Trust", "exchange": "HKG", "url": "/terminal/fdf6e60f-26b0-4d72-8905-e604a75d554e/report/", "weekly_return": 1.6949152542372898, "weekly_return_label": "1.7%", "weekly_return_tone": "positive", "four_week_return": -11.11111111111112, "four_week_return_label": "-11.1%", "four_week_return_tone": "negative", "twelve_week_return": -26.861689970360704, "twelve_week_return_label": "-26.9%", "twelve_week_return_tone": "negative", "trend_active": false, "positive_md": false, "positive_rs": false}]}}, "dynamics": {"market_dynamics": "-1.42", "market_dynamics_tone": "negative", "md_4_change": "1.1%", "relative_strength": "-19.39", "rs_4_change": "-24.7%", "expectation": "Negative", "expectation_probability": "36.53%"}, "volume": {"latest": "526.0K", "average_13": "1.5M", "average_52": "992.1K", "ratio_13": "0.3x", "ratio_52": "0.5x"}, "risk": {"volatility_13": "2.8%", "volatility_52": "2.1%", "downside_weeks": 22, "upside_weeks": 18, "downside_breadth": "42.3%", "average_gain": "1.4%", "average_loss": "-2.3%"}, "signals": [{"label": "Trend Signal", "value": "Inactive", "tone": "negative"}, {"label": "Market Dynamics", "value": "No fresh buy", "tone": "neutral"}, {"label": "Price vs Trend", "value": "-20.4%", "tone": "negative"}, {"label": "Volume", "value": "0.3x", "tone": "neutral"}], "opportunities": ["Latest weekly return ranks in the strongest part of its sector group."], "risks": ["Trend Signal is inactive, so price action has not confirmed a constructive regime.", "Price is below the Trend Line, which keeps downside pressure in focus.", "Price is below Fair Value, so the market is still discounting the latest tape.", "Market Dynamics is negative, which weakens the current setup.", "The share remains more than 20% below its 52-week high."], "watch_points": ["Trend Line remains the key weekly regime level.", "Market Dynamics is the pressure gauge to monitor for confirmation or fade.", "A volume ratio above 1.5x would show stronger participation in the next move."], "recent_rows": [{"week": "2026-06-12", "close": "1.20 HKD", "weekly_return": 1.6949152542372898, "weekly_return_label": "1.7%", "weekly_return_tone": "positive", "trend_line": "1.51 HKD", "fair_value": "1.62 HKD", "market_dynamics": "-1.42", "relative_strength": "-19.39", "volume": "526.0K", "trend_signal": "Off"}, {"week": "2026-06-05", "close": "1.18 HKD", "weekly_return": -5.600000000000005, "weekly_return_label": "-5.6%", "weekly_return_tone": "negative", "trend_line": "1.52 HKD", "fair_value": "1.62 HKD", "market_dynamics": "-1.33", "relative_strength": "-21.92", "volume": "1.5M", "trend_signal": "Off"}, {"week": "2026-05-29", "close": "1.25 HKD", "weekly_return": -3.8461538461538494, "weekly_return_label": "-3.8%", "weekly_return_tone": "negative", "trend_line": "1.54 HKD", "fair_value": "1.62 HKD", "market_dynamics": "-1.34", "relative_strength": "-18.51", "volume": "179.1K", "trend_signal": "Off"}, {"week": "2026-05-22", "close": "1.30 HKD", "weekly_return": -3.703703703703707, "weekly_return_label": "-3.7%", "weekly_return_tone": "negative", "trend_line": "1.55 HKD", "fair_value": "1.63 HKD", "market_dynamics": "-1.38", "relative_strength": "-17.13", "volume": "109.0K", "trend_signal": "Off"}, {"week": "2026-05-15", "close": "1.35 HKD", "weekly_return": 3.8461538461538494, "weekly_return_label": "3.8%", "weekly_return_tone": "positive", "trend_line": "1.56 HKD", "fair_value": "1.63 HKD", "market_dynamics": "-1.43", "relative_strength": "-15.54", "volume": "730.0K", "trend_signal": "Off"}, {"week": "2026-05-08", "close": "1.30 HKD", "weekly_return": -2.2556390977443628, "weekly_return_label": "-2.3%", "weekly_return_tone": "negative", "trend_line": "1.56 HKD", "fair_value": "1.63 HKD", "market_dynamics": "-1.51", "relative_strength": "-20.39", "volume": "727.0K", "trend_signal": "Off"}, {"week": "2026-05-01", "close": "1.33 HKD", "weekly_return": -2.2058823529411784, "weekly_return_label": "-2.2%", "weekly_return_tone": "negative", "trend_line": "1.57 HKD", "fair_value": "1.64 HKD", "market_dynamics": "-1.47", "relative_strength": "-17.12", "volume": "689.0K", "trend_signal": "Off"}, {"week": "2026-04-24", "close": "1.36 HKD", "weekly_return": -5.555555555555546, "weekly_return_label": "-5.6%", "weekly_return_tone": "negative", "trend_line": "1.58 HKD", "fair_value": "1.64 HKD", "market_dynamics": "-1.22", "relative_strength": "-16.44", "volume": "588.0K", "trend_signal": "Off"}, {"week": "2026-04-17", "close": "1.44 HKD", "weekly_return": -4.255319148936175, "weekly_return_label": "-4.3%", "weekly_return_tone": "negative", "trend_line": "1.59 HKD", "fair_value": "1.64 HKD", "market_dynamics": "-0.85", "relative_strength": "-12.72", "volume": "248.0K", "trend_signal": "Off"}, {"week": "2026-04-10", "close": "1.50 HKD", "weekly_return": -2.5316496712711327, "weekly_return_label": "-2.5%", "weekly_return_tone": "negative", "trend_line": "1.60 HKD", "fair_value": "1.64 HKD", "market_dynamics": "-0.23", "relative_strength": "-8.48", "volume": "86.0K", "trend_signal": "Off"}, {"week": "2026-04-03", "close": "1.54 HKD", "weekly_return": -0.6289158317936828, "weekly_return_label": "-0.6%", "weekly_return_tone": "negative", "trend_line": "1.60 HKD", "fair_value": "1.65 HKD", "market_dynamics": "0.33", "relative_strength": "-3.73", "volume": "4.6M", "trend_signal": "Off"}, {"week": "2026-03-27", "close": "1.55 HKD", "weekly_return": -5.357137415304312, "weekly_return_label": "-5.4%", "weekly_return_tone": "negative", "trend_line": "1.60 HKD", "fair_value": "1.65 HKD", "market_dynamics": "0.79", "relative_strength": "-2.78", "volume": "9.3M", "trend_signal": "On"}, {"week": "2026-03-20", "close": "1.64 HKD", "weekly_return": 0.0, "weekly_return_label": "0.0%", "weekly_return_tone": "neutral", "trend_line": "1.60 HKD", "fair_value": "1.65 HKD", "market_dynamics": "1.20", "relative_strength": "1.15", "volume": "556.0K", "trend_signal": "On"}, {"week": "2026-03-13", "close": "1.64 HKD", "weekly_return": -2.3255855486869748, "weekly_return_label": "-2.3%", "weekly_return_tone": "negative", "trend_line": "1.60 HKD", "fair_value": "1.65 HKD", "market_dynamics": "1.24", "relative_strength": "0.24", "volume": "322.0K", "trend_signal": "On"}], "chart_url": "/terminal/fdf6e60f-26b0-4d72-8905-e604a75d554e/", "api_path": "/terminal/fdf6e60f-26b0-4d72-8905-e604a75d554e/report/api/"}