HK Stock Market Move | The stocks of the Inland Property Group collectively fell, with Shimao Group (00813) dropping nearly 5% and Zhongliang Holdings (02772) falling over 3%.

Inner ring stocks collectively fell, as of the time of publication, SHIMAO GROUP (00813) fell 4.71% to HK$0.405; ZHONGLIANG HLDG (02772) fell 3.41% to HK$0.085; SUNAC (01918) fell 3.21% to HK$1.81; CH OVS G OCEANS (00081) fell 3.07% to HK$2.53. On the news front, data released by the National Bureau of Statistics showed that from January to August, national real estate development investment was 603.09 billion yuan, a year-on-year decrease of 12.9%. From January to August, the sales area of newly constructed residential buildings was 573.04 million square meters, a decrease of 4.7% year-on-year; of which residential sales area decreased by 4.7%. The sales value of newly constructed residential buildings was 550.15 billion yuan, a decrease of 7.3%; of which residential sales value decreased by 7.0%. At the end of August, the unsold area of commercial housing was 761.69 million square meters, a decrease of 3.17 million square meters from the end of July. Among them, the unsold area of residential housing decreased by 3.07 million square meters. A recent research report by BOCOM INTL pointed out that due to the continued hot weather, the overall supply and demand in the real estate market continued to be soft, and the differentiation between cities and projects continued to intensify. The real estate market in August mainly focused on the policies of provident fund and relaxation. A series of policies continued to stimulate market vitality through expanding the scope of provident fund use, further relaxing purchase restrictions, and reducing the burden of renting and purchasing. It is expected that September will usher in the traditional marketing peak season, with a greater opportunity for real estate companies to accelerate their pace of listings and increase discounts. The favorable policy of relaxing purchase restrictions in core first-tier cities is gradually being introduced, and with gradual recovery, market activity is expected to have a phase of rebound.