HK Stock Market Move | The real estate, property management stocks rebounded today with the decline in multiple indicators narrowing year-on-year in August. Real estate policies continue to be loose.

Property stocks and property management stocks rebounded today. As of the time of writing, SINO-OCEAN GP (03377) rose by 9.73% to 0.203 Hong Kong dollars; CIFI HOLD GP (00884) rose by 5.48% to 0.231 Hong Kong dollars; SHIMAO GROUP (00813) rose by 3.19% to 0.485 Hong Kong dollars; and YUEXIU SERVICES (06626) rose by 2.85% to 3.25 Hong Kong dollars. On the news front, the National Bureau of Statistics recently released data on the real estate market. From January to August, various indicators such as the area and sales of new homes, funds in place for real estate enterprises, and the area of new housing construction all showed narrowing year-on-year declines. For example, the area of new homes sold nationwide has been narrowing for 3 consecutive months, sales have been narrowing for 4 consecutive months, funds in place for real estate enterprises have been narrowing for 5 consecutive months, and the area of new housing construction has been narrowing for 6 consecutive months. Tianfeng stated that in August, the sales amount and area of commercial housing increased slightly month-on-month compared to July. Despite the traditional high temperature influencing factors, demand showed a resilient trend. The cumulative year-on-year decline in sales continues to narrow, possibly due to relief from the base pressure. Sinolink pointed out that the recent statement from the central bank emphasizes maintaining price stability and promoting a moderate price increase as important considerations for monetary policy; they are implementing some incremental policy measures to further reduce the financing costs for enterprises and residents. The efforts of monetary policy and the decrease in mortgage rates have positive implications for the real estate sector, and there is anticipation for the decrease in both incremental and existing mortgage rates.