HK Stock Market Move | BEKE-W(02423) rose nearly 15% in early trading, the central bank's heavy-handed new real estate policy was announced, and the performance of second-hand intermediary companies showed strong resilience.

BEKE-W(02423) rose nearly 15% in early trading, and as of the time of writing, it had risen by 12.26% to HK$43.05 with a trading volume of HK$69.0895 million. On the news front, the main person in charge of the People's Bank of China introduced that in terms of real estate loans, they will reduce the interest rates on existing home loans and unify the minimum down payment ratio for home loans. Specifically, they will guide commercial banks to reduce the interest rates on existing home loans to near the interest rates on new home loans, with an average expected reduction of about 0.5 percentage points. The minimum down payment ratio for the second home loan nationwide will be reduced from 25% to 15%, unifying the minimum down payment ratio for the first and second home loans. In addition, Beijing has optimized real estate policies and timely canceled the standards for ordinary and non-ordinary residential housing. Zheshang previously stated that Beijing's optimization of real estate policies is significant, there is still room for policy adjustments, the waning effect of the combination of policies from May 17th, the lackluster market in the peak season, the continued instability of housing prices, and the unexpected rate cuts by the Federal Reserve all together are pushing for Q4 policy tightening and market stabilization. The bank pointed out that second-hand brokerage companies benefit from the "trade-in" program and strong performance due to the repair of fundamentals, with a focus on agencies such as Shell.