HK Stock Market Move | Intracorp stocks rose and fell, with RONSHINECHINA (03301) falling more than 5% and ZHONGLIANG HLDG (02772) falling more than 3%.

The stocks in the real estate sector rose and then fell back. As of the time of publication, RONSHINECHINA (03301) fell by 5.05%, at 0.47 Hong Kong dollars; ZHONGLIANG HLDG (02772) fell by 3.68%, at 0.131 Hong Kong dollars; SHIMAO GROUP (00813) fell by 2.5%, at 1.17 Hong Kong dollars; SUNAC (01918) fell by 0.37%, at 2.68 Hong Kong dollars. In terms of news, the National Bureau of Statistics recently announced the real estate investment and sales data for the period from January to October 2024. From January to October 2024, real estate development investment was 863.09 billion yuan, a decrease of 10.3% year-on-year; sales of newly constructed commercial buildings were 768.55 billion yuan, a decrease of 20.9% year-on-year; and the funds in place for real estate development enterprises were 872.35 billion yuan, a decrease of 19.2% year-on-year. Guosen pointed out that with the policy effects on the demand side showing in September, sales volume and price indicators have marginally improved, but development investment has not yet improved. The future trend of the real estate sector will depend on the progress of policies such as land reclamation and urban village expansion, as well as the sustainability of the housing market's volume and price recovery. It is worth mentioning that Guangzhou Anju Group announced that it will purchase existing commercial housing below 90 square meters as affordable housing in the entire city. Developers interested in participating can sign up between November 18 and December 18. In addition, the Beijing Municipal Commission of Housing and Urban-Rural Development, the Municipal Finance Bureau, and the Beijing Municipal Taxation Bureau jointly issued a notice to cancel the standards for ordinary and non-ordinary housing, which will take effect on December 1, 2024. The Shanghai Housing and Urban-Rural Development Commission and four other departments also issued a notice to cancel the standards for ordinary and non-ordinary housing in Shanghai, as well as related individual housing transaction tax matters after the cancellation of the standards. This policy will take effect on December 1 of this year.