HK Stock Market Move | BEKE-W(02423) continued to rise by over 3%, core cities rolled out new housing policies, second-hand housing transactions in April were not slow season.

BEKE-W(02423) rose more than 3%, up 3.28% as of the writing, at HK$46.6, with a turnover of HK$2.79 billion. On the news front, recently, several core cities have introduced new housing policies, with particular emphasis on housing fund support in Shenzhen and Guangzhou, while Tianjin focuses on the purchase of existing homes. In addition, data shows that in April, the cumulative number of second-hand home transactions in Shanghai reached 28,742 sets, reaching a near 10-year high for the same period; Beijing's transaction volume also reached a near 5-year high for the same period. Industrial pointed out that the off-season for second-hand home transactions in April was not weak. It is expected that further policy changes will help stabilize core cities first, and then spread to more cities. CICC Securities stated that Beike is the leading real estate agency platform, with strong control over the industry to ensure a high market share. It is expected that the cost reduction and efficiency improvement results in the agency business will be realized quarter by quarter by 2026, along with profitability in leasing and home decoration businesses, and the non-GAAP net profit is expected to rise.