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CICC expects the Hang Seng Index to hover between 16800 and 18300 points in September.
Yan Zhaojun, an analyst at CITIC International, believes that the current valuation of Hong Kong stocks is still low, and policy expectations will help repair valuation. The forecasted PE ratio of the Hang Seng Index is expected to recover to 8.3 times, but it is still at a historically low level. Based on factors such as fundamentals, profitability, capital, and valuation, it is expected that the reasonable operating range of the Hang Seng Index in September will be from 16,800 to 18,300 points.
[Brokerage Focus] CMB International: The downward trend in real estate sales in September may intensify.
Jingu Finance News | CMB International Bank said that the downward trend in real estate sales in September may intensify. The bank pointed out that some cities are adopting a new pricing mechanism, using the internal area of the house rather than the total area as the pricing basis for sales while keeping the total price of the house unchanged. The bank believes that due to the higher price per unit area under this mechanism, it will not promote sales in the short term. However, the bank believes that this will increase transaction transparency, protect the rights and interests of homebuyers, and promote the healthy development of the industry in the long term. Discussions on the policy of allowing conversion of inventory to mortgages are currently underway. The bank believes that this will only be feasible when mortgage interest rates decrease to a level that makes rental yield attractive.
Market Chatter: Hong Kong Rental Property Prices Close to Record High in August
Tracking the concept of Hong Kong stocks | Leading state-owned property companies have stable development. Institutions seize the opportunity to allocate at the bottom (with concept stocks)
Citic Sec stated that, with the enterprises actively controlling the incremental related trades, gradually digesting the outstanding related loans, and increasing the level of dividends, the independence concerns of property service enterprises can be somewhat relieved.
[Brokerage Focus] Zhongtai maintains a "buy" rating on China Res Mixc (01209), pointing out the long-term potential of its commercial management advantages.
Zhongtai Securities released a research report stating that China Res Mixc (01209) achieved main business revenue of 7.957 billion in the first half of 2024, a year-on-year increase of 17.1%, and a net income attributable to shareholders of 1.766 billion, a year-on-year increase of 24.2%. The board of directors has decided to distribute an interim dividend of RMB 0.279 per share and a special dividend of RMB 0.575 per share. The bank also indicated that as of the first half of 2024, the company's revenue from property management services was 3.217 billion, a year-on-year increase of 13.1%, accounting for 40.4% of the total revenue. The company manages 1335 community space projects.
China Resources Mixc Lifestyle Services Limited Beat Revenue Forecasts By 14%: Here's What Analysts Are Forecasting Next
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