A-share evening hotspots | Real estate heavyweight! New tax incentives policy announced, latest analysis by institutions

The following is the main text of the evening news: 1. Major Good News for the Real Estate Market, New Tax Incentives Released The Ministry of Finance, the State Administration of Taxation, and the Ministry of Housing and Urban-Rural Development issued the "Announcement on Tax Policies to Promote the Stable and Healthy Development of the Real Estate Market" on November 13, clearly outlining several tax incentive policies to support the development of the real estate market. For real estate deed taxes: For individuals purchasing the only residential property for their family (including the buyer, spouse, and minor children) with an area of 140 square meters or less, the deed tax will be levied at a reduced rate of 1%; for properties with an area of more than 140 square meters, the deed tax will be levied at a reduced rate of 1.5%. Regarding value-added taxes, in cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, after the cancellation of standards for regular and non-regular residential properties, a unified personal housing value-added tax policy applicable nationwide will be implemented. Individuals in these cities who sell a residential property purchased for 2 years or more (including 2 years) will be exempt from the value-added tax. Li Yu Jia, Chief Researcher of the Housing Policy Research Center of the Guangdong Provincial Urban and Rural Planning Institute, pointed out that these policy adjustments aim to reduce transaction-related tax burdens. As the real estate market shifts from an era of incremental growth to a period of existing stock, the direction of real estate tax reform will be to reduce the tax burden on transaction circulation and promote a healthy cycle of transactions. In addition, the latest analysis by Minsheng Securities suggests that the annual scale of deed tax incentives could reach billions. Overall, in 2023, the deed tax revenue will be 591 billion yuan, the highest proportion among land and real estate-related taxes. The four first-tier cities with high deed tax rates are expected to have a total deed tax revenue of 81.7 billion yuan in 2023. Minsheng Securities stated that tax cuts will effectively save housing costs for residents, especially for those with improvement-type demands in first-tier cities. 2. U.S. October CPI Rises 2.6% Year-on-Year, Meeting Market Expectations In the United States, the Consumer Price Index (CPI) in October rose by 2.6% year-on-year, in line with expectations and an increase from the previous value of 2.4%. The month-on-month CPI in October increased by 0.2%, also meeting expectations, with a previous increase of 0.2%. Following the release of the U.S. inflation data, traders increased their bets on a rate cut by the Federal Reserve in December. The probability of a rate cut in December is now around 75%, up from 60% before the release of the U.S. inflation data. 3. Zeng Yuqun: If Trump "Greenlights" Contemporary Amperex Technology, Consider Building a Plant in the U.S. On November 12, local time, Zeng Yuqun, Chairman and CEO of Contemporary Amperex Technology, stated in an interview that if the U.S. elected President Trump were to open the door to Chinese companies investing in the electric vehicle supply chain in the U.S., Contemporary Amperex Technology would consider building a plant in the U.S. Zeng Yuqun mentioned that when the company initially wanted to invest in the United States, the U.S. government refused. However, he has always maintained an open attitude and hopes that the U.S. will open its doors to investment in the future. 4. Several Public Funds Reporting the Listing of the ChiNext 50 ETF! Insiders: Expected to Bring More Incremental Funds to the Market The ChiNext 50 ETF is expected to quickly expand. It is reported that fund companies such as E Fund Management, Huaxia Fund Management, Fortune SG Fund Management, ICBC Credit Suisse Fund Management, and Wanjia Fund Management collectively reported the ChiNext 50 ETF. According to industry insiders, the approval of the ChiNext 50 ETF is expected to bring in more incremental funds to the market. 5. Zhongjin and Galaxy Stock Price Movement Sparks Merger Rumors Again, Both Parties Respond: Companies Unaware On Wednesday, there were several stock market anomalies related to merger and reorganization expectations. CICC rose by up to 9.02% to 40.86 yuan per share and China Galaxy rose by up to 6.44% to 16.85 yuan per share. When asked about the stock price movements, reporters contacted China Galaxy and CICC, both of which stated that they were unaware, and to refer to official announcements. An individual close to CICC speculated that two merger and reorganization plans were about to be finalized. Internal sources revealed that China Galaxy would absorb Zhongjin Wealth while CICC would remain independent. 6. Contrarian Closure of Branches by Securities Firms, What's Happening? Despite the lively A-share market and continuous enthusiasm from investors to open accounts, the pace at which securities companies are closing branches has not slowed down. According to incomplete statistics from Securities Firm China, from October to the present, a total of 10 securities firms have closed 34 branches. These securities firms mostly stated that this was mainly due to the optimization of their branch layout. An analyst from a securities firm explained to reporters that the optimization of branch structure is a long-term strategic adjustment for securities firms. This involves closing branches with poor long-term profitability while upgrading certain branches, focusing on precision and refinement rather than the previous approach of expanding aggressively. At the same time, with the acceleration of digital transformation, many securities companies are managing "long tail customers" in a centralized manner to achieve efficient and scalable business operations, significantly increasing service efficiency. 7. Shenzhen's Daily Average Sale of Houses Exceeds 400 Units, "Trade-in" Program Accumulates Over 300 Units Sold According to the Le You Jia Research Center, in early November, the cumulative number of new residential units subscribed in Shenzhen reached 4,314, with an average of over 400 units per day, a 34% increase compared to October 1-10, with an average of 431.4 subscriptions per day. At the same time, the pre-sale signing volume of new residential units reached 2,732, a 12-fold increase compared to the beginning of October (fewer developers handled new house signings during the National Day holiday). The China Index Research Institute predicts that in the fourth quarter, the comprehensive real estate policy "package" measures are expected to be implemented, the core city market volume and prices may stabilize, thereby providing important support for the bottoming out of the national market, and the year-on-year decline in national new home sales is expected to continue to narrow. In addition, the following news items are also worth noting: 8. Gold prices fell by over $200 per ounce in a week, and institutional longs adjusted their positions strategies. 9. Nvidia and SoftBank's trial operation of "AI+5G," marking a significant breakthrough in the telecom industry. 10. If OPEC+ cancels its voluntary production cut plan, what will happen?Analysis: Oil prices may be cut in half next year.1. Trump plans to massively expel illegal immigrants, American agriculture may suffer heavy losses President-elect Trump has promised to implement the largest immigration expulsion plan in history. Matt Kasten, CEO of Landus, the largest farm cooperative in Iowa, cautioned against Trump's plan. If the upcoming Trump administration expels millions of illegal immigrants, agriculture will be one of the hardest hit industries in the United States. 2. Musk's "bet" returns full, some advertisers are preparing to return to Twitter Several media executives revealed that some brands are preparing to re-advertise on the social media platform "X" (formerly known as Twitter) because the platform's owner, Elon Musk, will hold a key position in the new Trump administration. Earlier, US President-elect Trump announced that Musk would lead the "Department of Government Efficiency" with entrepreneur Vivek Ramaswamy to cut spending, repeal regulations, and restructure federal agencies. 3. Strong dollar impact on emerging markets: Currency devaluation and pressure on commodity prices On November 12, the Financial Times of Britain reported that the US election may be just the beginning of a strong rise in the dollar. Analysts point out that if the US further implements even greater tariffs, bigger changes are on the way. For emerging markets, Asian countries' currencies will face a "massive" devaluation, thus dragging down the currencies of other emerging markets around the world. As for investment opportunities in the market, brain-computer interfaces, rare earths, and photovoltaics are receiving attention.