JPMorgan released a Research Report stating that the Central Political Bureau meeting once again emphasized the need to stabilize the development of the real estate market. The more proactive tone of macroeconomic policy is encouraging, including a clear commitment to implement a more aggressive fiscal policy and moderately loose MMF policy, which is expected to provide support for the development of the real estate market. The bank's preferred choices in the Mainland Real Estate industry are CHINA RES LAND, CHINA RES MIXC, and POLY PPT SER, all rated for Shareholding, with a Target Price of 30 HKD, 31 HKD, and 35 HKD respectively.
The bank emphasized that it will pay attention to the upcoming Central Economic Work Conference, which may provide more similar policy narratives and shifts regarding the real estate industry. It is expected that before the Central Economic Work Conference takes place, the stock prices of Mainland Real Estate will respond positively, but it warns that if no new information is revealed during the conference, the Mainland Real Estate sector may weaken again.
