HK Stock Market Move | In the morning session, stocks in the domestic market generally rose, Shanghai is promoting the acquisition of second-hand houses, and second-hand house transactions in first-tier cities are picking up.

The stocks in the real estate sector rose in the morning session. As of press time, Yuexiu Property (00123) rose by 4.01% to HK$4.67; CH OVS G Oceans (00081) rose by 4% to HK$2.6; China Resources Land (01109) rose by 3.89% to HK$31.48; China Overseas (00688) rose by 3.5% to HK$14.48; Logan Group (03380) rose by 2.96% to HK$1.39. In terms of news, on February 2nd, China Construction Bank Corporation supported the signing of the first batch of contracts for the acquisition of second-hand housing for the purpose of affordable rental housing projects in Shanghai. The pilot areas include Pudong New Area, Jing'an District, and Xuhui District, focusing on small-sized second-hand housing units with older ages whose owners have a willingness to exchange for new houses in the district. Zhongjin believes that the listing volume of second-hand housing in Shanghai has been declining since the third quarter of 2025, leading to a continuous decline in the listing and turnover period; this round of existing housing acquisition is aimed at the most direct supply pressure of second-hand housing supply, and is also a positive measure. According to reports, in January, the number of second-hand house transactions in Beijing exceeded 15,000 units, staying steadily above 14,000 units for three consecutive months; Shanghai has seen transactions of over 22,000 second-hand houses for three consecutive months; Shenzhen recorded a total of 6802 second-hand houses, reaching a new high in nearly 10 months; Guangzhou saw 8881 second-hand residential units being signed, with the market resilience also strong. Industry experts believe that the "early spring" trend in the real estate market is emerging, with the second-hand housing market leading the recovery, demonstrating strong core resilience. The changes in the listing volume after the Spring Festival will be a key window to observe the supply and demand relationship.