HK Stock Market Move | Most of the stocks in the real estate sector are rising, and many places are introducing new housing policies. The real estate markets in Beijing, Shanghai, and Shenzhen are heating up significantly.
The majority of the property stocks in the domestic market are rising, as of the time of writing, Yuexiu Property (00123) is up 6.46% at 4.12 Hong Kong dollars; Country Garden Holdings (01908) is up 6.2% at 15.94 Hong Kong dollars.
Many stocks in the real estate sector are on the rise. As of the time of writing, YUEXIU PROPERTY (00123) rose by 6.46% to HK$4.12; C&D INTL GROUP (01908) rose by 6.2% to HK$15.94; CHINA JINMAO (00817) rose by 5.95% to HK$1.78; CH OVS G OCEANS (00081) rose by 5.21% to HK$3.03; CHINA RES LAND (01109) rose by 4.89% to HK$34.74.
In terms of news, several core cities have recently introduced new real estate policies. Among them, Shenzhen and Guangzhou have particularly strong support for provident fund, while Tianjin focuses on the purchase of existing houses. In addition, data shows that in April, Shanghai's cumulative second-hand housing transactions reached 28,742 units, reaching a nearly 10-year high; Beijing's second-hand housing transactions in April reached 17,893 units, an increase of 14.9% year-on-year, reaching a nearly five-year high; from April 30th to May 5th, Shenzhen's cumulative second-hand housing transactions reached 829 units, an increase of 62.5%.
Shenwan Hongyuan Group believes that core cities such as Shanghai are expected to lead in stabilizing and rebounding this year. This is considering the central government's repeated calls for a stable real estate market, and the recent strong support for the real estate sector by the official media "Seeking Truth" for three consecutive times. In addition, with the continuous relaxation of purchase restrictions in Beijing, Shanghai, and Shenzhen in recent times, the policy environment is becoming more positive. Furthermore, with deep clearance of real estate supply side, the industry landscape is significantly optimized. It is expected that the profitability of high-quality real estate companies will recover earlier and be more resilient, with some high-quality companies currently at historic low valuations. The sector is becoming attractive for investment.
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