HK Stock Market Move | Many property stocks fell, with Sunac (01918) dropping more than 6% and Seazen (01030) dropping more than 4%.

In the domestic housing sector, most stocks fell, as of the time of writing, SUNAC (01918) dropped by 6.02%, to HKD 0.78; SEAZEN (01030) dropped by 4.24%, to HKD 1.58; R&F PROPERTIES (02777) dropped by 3.7%, to HKD 0.26. On the news front, data released by the National Bureau of Statistics this morning showed that from January to May, the national real estate development investment was 3.0356 trillion yuan, a year-on-year decrease of 16.2%; among them, residential investment was 2.3426 trillion yuan, a decrease of 15.6%. From January to May, the sales area of new commercial housing was 313.2 million square meters, a year-on-year decrease of 10.8%; among them, residential sales area decreased by 12.1%. The sales revenue of new commercial housing was 2.9366 trillion yuan, down 13.5%; among them, residential sales revenue decreased by 14.1%. Guosen recently pointed out in a research report that the industry is still in a transition phase from "expected recovery" to "fundamental verification." Although investment, new construction, and other indicators are still under pressure, improvements on the demand side, stabilization of prices, and marginal recovery of rents collectively indicate that the industry's most pessimistic stage may have passed. In the second half of the year, it is necessary to focus on the sustainability of transactions, the expansion of the range of stable housing prices, and whether the recovery of rents can form a positive cycle.