HK Stock Market Move | The stocks of the domestic housing sector collectively fell, and the volume and prices of the real estate market are expected to continue adjusting in 2024. Institutions predict that sales of real estate enterprises will decline in January.

In terms of news, as of the time of publication, stocks in the real estate sector collectively fell, with SUNAC (01918) dropping 8.15% to HKD 1.69, RONSHINECHINA (03301) falling 7.94% to HKD 0.29, SHIMAO GROUP (00813) declining 6.25% to HKD 0.9, and R&F PROPERTIES (02777) dropping 4.69% to HKD 1.22. According to data from the China Index Research Institute, the total sales of the top 100 real estate companies in the first 12 months of 2024 amounted to 4354.73 billion yuan, a year-on-year decrease of 30.6%, narrowing by 2.3 percentage points compared to the previous month. In December alone, the sales of the top 100 real estate companies decreased by 3.41% year-on-year, with a narrower decline and a month-on-month increase of 28.86%. In addition, according to data from Ke Rui, in December 2024, the top 100 real estate companies achieved a sales turnover of 451.39 billion yuan, an increase of 24.2% month-on-month, staying flat year-on-year. In terms of cumulative performance, the top 100 real estate companies achieved a sales turnover of 3884.02 billion yuan from January to December, a year-on-year decrease of 28.1%, narrowing by nearly 2.6 percentage points compared to November. According to a research report by Ping An Securities, the adjustment in the real estate market in 2024 will continue in terms of volume and price, and national investment and sales will still be under pressure in 2025. Tianfeng expressed that looking ahead to January, with seasonal factors combined with the Spring Festival holiday, it is expected that the sales of real estate companies will likely decline month-on-month. However, considering that the market heat still exists, there is still a possibility of stability year-on-year. Therefore, there is no need to be overly pessimistic about the short-term fundamentals, and the marginal changes in the volume and price of second-hand properties in core cities can be used as forward-looking indicators. On the trading front, with short-term support from a good fundamental base and the increase in safety margins and value of allocations, it is recommended to pay attention to important post-holiday meetings and the window for strategic positioning.