HK Stock Market Move | Country Garden (02007) continues to rise, up nearly 14%. Shimao Group (00813) also up more than 11%.

The stocks of property developers continue to rise, as of the time of writing: COUNTRY GARDEN (02007) is up 13.92% at HK$0.45; SHIMAO GROUP (00813) is up 11.61% at HK$1.25; R&F PROPERTIES (02777) is up 5.34% at HK$1.38; GREENTOWN CHINA (03900) is up 4.78% at HK$12.28. In terms of news, Sinolink points out that according to the disclosure by Beike, the number of second-hand house viewings in key cities in the third week after the Spring Festival (February 17th to February 23rd) continued to increase. Comparing with the previous week, the number of viewings in the seven major cities in the third week after the festival increased by 8.3%, with Shanghai, Shenzhen, Hangzhou, and Suzhou all seeing an increase of more than 10%. Considering that there have been no new policies to stimulate the market recently, the sharp increase in viewings and real-time transactions may reflect a significant potential demand for home buying, and it is expected that the real estate market will see a "mini spring" trend in March this year. Zhongjin believes that there are bright spots in the structural aspects of real estate worth looking forward to. Although it may be too early to expect the nationwide rollout of special bonds for land reserves and the repurchase of commercial housing, due to the strong specificity of the real estate sector, it is not ruled out that some structural bright spots may appear in real estate policies by 2025. The Central Economic Work Conference proposed to "continue to make efforts to stabilize the real estate market, and intensify the renovation of urban villages and old houses in danger." The People's Bank of China also explicitly stated in its Monetary Policy Implementation Report for the fourth quarter of 2024 released on February 13th that it will "vigorously revitalize existing commercial housing and land reserves." The statement in the previous quarter was to "actively support the acquisition of existing commercial housing for use as affordable housing and support the revitalization of unused land."