HK Stock Market Move | In-house stocks continue to rise, the sales decline of the top 100 real estate companies in May continues to narrow, and the "Fifteen-Five" urban renewal plan is announced.

The stocks in the real estate sector continued to rise. As of the time of writing, Sun Hung Kai Properties (00884) rose by 6.56% to HKD 0.065, YUEXIU PROPERTY (00123) rose by 5.72% to HKD 4.62, LOGAN GROUP (03380) rose by 5.3% to HKD 1.39, and AGILE GROUP (03383) rose by 4.08% to HKD 0.204. On the news front, data from the China Index Research Institute shows that from January to May, the total land acquisition amount of the TOP100 real estate companies decreased year-on-year by 6.2 percentage points compared to the previous four months, and the sales amount decrease was reduced by 4.7 percentage points. The year-on-year decrease in both land acquisition and sales amounts has narrowed for three consecutive months. Previously, the State Council officially issued the "Fifteen-Five" Urban Renewal Plan, which is China's first national-level special plan in the urban renewal field. The plan sets the dual-stage goal of "significant progress in urban renewal actions by 2030, and the basic completion of modernized people's cities by 2035." Zhongjin Securities pointed out that the third quarter may be in a transitional stage from the left side to the right side of the market. Although the strength of the real market performance in the third quarter and beyond is still a probability issue, considering the potentially high implied odds in current valuations and manageable downside risks, it may provide a certain foundation for subsequent sector rotation of funds. If the real market performs strongly after the third quarter, the bank believes it could constitute an important round of sector revaluation after September 24.