Mainland real estate stocks rose collectively in the morning session. As of the time of publication, Sino-Ocean GP (03377) rose by 5.24% to HK$0.241; Shimao Group (00813) rose by 4.69% to HK$0.67; Greentown China (03900) rose by 3.35% to HK$6.47.
According to the Zhītōng Finance APP, mainland real estate stocks rose collectively in the morning session. As of the time of publication, Sino-Ocean GP (03377) rose by 5.24% to HK$0.241; Shimao Group (00813) rose by 4.69% to HK$0.67; Greentown China (03900) rose by 3.35% to HK$6.47; Sunac (01918) rose by 3.09% to HK$1.
On the news front, the market has been closely watching rumors of a reduction in existing home loan interest rates recently. The latest news indicates that financial regulatory institutions have proposed an overall reduction of around 80 basis points in existing home loan interest rates nationwide, to be implemented in two steps. The first reduction may take place in the coming weeks, with the second one scheduled to take effect early next year. The plan may apply to both first and second home purchases.
In addition, a research report from Minsheng Securities pointed out that in July-August 2024, high temperatures combined with a sluggish market sentiment led to a continued decline in transaction volume both month-on-month and year-on-year, reaching near the lowest levels of the year (slightly higher than February at the beginning of the year). It is predicted that in September, with the traditional peak season for sales approaching, real estate companies are expected to increase their new property listings and marketing efforts. Overall transactions in September are likely to show a month-on-month increase.