HK Stock Market Move | Partial real estate stocks rose in the afternoon, COUNTRY GARDEN (02007) is now up nearly 12%. The Political Bureau meeting pointed out the need to stabilize the real estate and stock markets.

Some real estate stocks rose rapidly in the afternoon, as of the time of writing, Country Garden (02007) rose 9.68% to 0.51 Hong Kong dollars; Radiance Holdings (09993) rose 7.75% to 3.06 Hong Kong dollars; Sunac (01918) rose 2.74% to 2.25 Hong Kong dollars; China Vanke (02202) rose 1.57% to 6.48 Hong Kong dollars. On the news front, according to Xinhua News Agency, the Political Bureau of the Communist Party of China held a meeting on February 28th to discuss the draft of the Government Work Report to be submitted for deliberation at the third session of the 14th National People's Congress. The meeting of the Political Bureau pointed out the need to stabilize the real estate and stock markets, and prevent and resolve risks and external shocks in key areas. HSBC published a research report stating that with the increasing consensus that the mainland real estate market has bottomed out, investors are shifting from technology stocks to real estate stocks. According to different valuation scenarios based on standardized long-term earnings calculations, real estate stocks have an implied upside potential of up to 42%. Huatai, on the other hand, stated that concerns about the spillover risks of top real estate companies are gradually easing; 2025 is expected to see a structural "stabilization after decline" compared to the overall housing price adjustment in 2024; the high inventory issue will see some improvement under the "destocking" policy.