Selling into real estate stocks, awareness of negative aspects of rising interest rates - 1 day after the Bank of Japan interest rate hike
2024/8/1 10:01 JST (some excerpts)
On the Tokyo Stock Exchange on the 1st, sales were booming in real estate and housing stocks. Although it was rising on the day the Bank of Japan's interest rate hike was announced, today it has completely reversed and people are becoming aware of the negative aspects of performance associated with rising interest rates.
Compared to the previous day, Mitsui Fudosan temporarily depreciated 8.7%, Mitsubishi Estate depreciated 6.9%, and Sumitomo Real Estate fell 9.4%, making it cheap across the board. Housing stocks are also cheap, such as Sekisui House falling 6% and Sumitomo Forestry falling 6.5%.
As of 9:54 a.m., “real estate” is at the top of the 33 industries on the Tokyo Stock Exchange due to price drops, and “construction” is in 6th place.
On the Tokyo Stock Exchange on the 1st, sales were booming in real estate and housing stocks. Although it was rising on the day the Bank of Japan's interest rate hike was announced, today it has completely reversed and people are becoming aware of the negative aspects of performance associated with rising interest rates.
Compared to the previous day, Mitsui Fudosan temporarily depreciated 8.7%, Mitsubishi Estate depreciated 6.9%, and Sumitomo Real Estate fell 9.4%, making it cheap across the board. Housing stocks are also cheap, such as Sekisui House falling 6% and Sumitomo Forestry falling 6.5%.
As of 9:54 a.m., “real estate” is at the top of the 33 industries on the Tokyo Stock Exchange due to price drops, and “construction” is in 6th place.
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