HK Stock Market Move | In the near future, the internal housing stocks continued to decline. Institutions pointed out that policy expectations were not met and the potential for a small rebound in the market was lacking. The performance of the real estate sector was relatively weak.

The property market continued to decline in the near term. As of the time of writing, R&F PROPERTIES (02777) fell by 6.02% to 0.39 Hong Kong dollars; SUNAC (01918) fell by 4.46% to 1.07 Hong Kong dollars; and SEAZEN (01030) fell by 1.45% to 2.04 Hong Kong dollars. On the news front, according to the National Bureau of Statistics, the sales area of newly built commercial housing from January to February was 92.93 million square meters, a year-on-year decrease of 13.5%, with a decline of 4.8 percentage points larger than that of the whole year of 2025. In February, the sales prices of new commercial residential buildings in the 70 large and medium-sized cities remained flat from a 0.3% decrease in January, with a year-on-year decrease of 2.2%, and 10 cities saw an increase in the sales prices of new commercial residential buildings. A research report released by Kaiyuan Securities stated that the trading volume of new homes in 30 cities nationwide and second-hand homes in 15 cities has been continuously decreasing year-on-year for six consecutive weeks, reflecting that the "small spring" is slightly insufficient. Orient's research report suggested that the recent performance of the real estate sector has been weak. On the one hand, it is affected by the expectation of policy failures, and on the other hand, the overall performance of the "small spring" is not exceeding expectations. It still exhibits the common characteristics of past "small springs" and policy-driven volatile trading markets, such as trading volume being exchanged for price, second-hand homes being stronger than new homes, dominant positions in core cities, and a high proportion of transaction for affordable housing. The exchange of volume for price indicates that the sustainability of trading volume increase may not be strong, weak new home sales suggest that the improvement in profitability of real estate enterprises is still a long way to go, and structural issues in transactions indicate that there is still significant pressure on the overall market volume, with only sporadic repairs.