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Sinolink Securities: Third Plenary Session of the 18th CPC Central Committee first proposed real estate. Second-hand housing prices in Beijing and Shanghai increased month-on-month.
The communique of the Third Plenary Session on the policy front first proposes to prevent and resolve real estate risks and point out the direction of future real estate development. It is expected that the previous policy of destocking will accelerate its implementation, restrictive policies will continue to be relaxed, and the new model of "indemnificatory apartments + commodity apartments" will accelerate its construction, speeding up the process of market stabilization.
Some mainland real estate stocks rose against the market, with Sunac (01918) up 2.68%. Institutions indicated that under the continuous policy efforts in recent period, the housing prices in core cities are expected to become stable.
Some mainland real estate stocks rose against the market, with Shimao Group (00813) up 4.94%, Sino-Ocean Group (03377) up 4.17%, Sunac (01918) up 2.68%, Logan Group (03380) up 2.67%, and Radiance Hldgs (09993) up 1.91%. Inflation data for June in the USA was lower than expected, increasing expectations for a rate cut by the Federal Reserve. Some analysts pointed out that a rate cut by the Federal Reserve would lead to an inflow of funds from the USA to other markets, including China and Hong Kong, which would increase the liquidity of the Hong Kong stock market. At the same time, due to the inflow of funds and improved market expectations, real estate stocks in the Hong Kong stock market
According to Zhongzhi Research Institute, the merger and acquisition activity in the real estate industry continued to increase in June.
According to Zhongzhi Research Institute monitoring, there were 17 merger and acquisition trades in the real estate industry in June 2024, an increase of 2 compared to the previous month.
Hong Kong stock market fluctuations | Mainland real estate stocks have the highest increase, and the policy effects have been reflected in the transaction end according to institutions' bullish view on continuous recovery in real estate.
Mainland real estate stocks rose in early trading, as of press time, Shimao group (00813) rose 12.86%, closing at HKD 0.79; Sunac (01918) rose 8.26%, closing at HKD 1.18; China Vanke (02202) rose 6.86%, closing at HKD 4.83; Agile Group (00884) rose 7.94%, closing at HKD 0.34; Seazen (01030) rose 5.76%, closing at HKD 1.47.
HK stocks fluctuate | Mainland real estate rebounds in the afternoon, the real estate market enters the period of policy effect realization, institutions are bullish on the continued narrowing of the top 100 sales decline in July.
Mainland real estate stocks rebounded in the afternoon. As of press time, R&F Properties (02777) rose 4.88% to HKD 0.86; Sunac (01918) rose 3.85% to HKD 1.08; Cifi Hold GP (00884) rose 3.33% to HKD 0.31.
GF Sec: Land Activation Fund Established, New Home Sales Turn Positive year-on-year in early July.
GF sec released research reports stating that the state-owned assets supervision and administration commission has set up a special fund for land consolidation with a total size of 30 billion yuan and requires central SOEs to report pilot projects to try to solve the problem of long-term high inventory in the real estate market. On the local policy side, this week still mainly focuses on relaxing housing provident fund policies and providing housing subsidies to boost demand, and various regions are still exploring new policies to stimulate demand.
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