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Hong Kong stock market closed (August 26) | Hang Seng Index rose 1.06%, pharmaceutical, real estate, non-ferrous stocks and other sectors rose. Wuxi Bio (02269) led the blue chips.
Federal Reserve Chairman Powell sent a strong signal of interest rate cuts, and the Hong Kong stock market fluctuated higher today, with all three major indexes briefly rising more than 1% during the session.
Hong Kong Shares Rise 1.1% Amid Regional Gains -- Market Talk
Hong Kong property stocks surged, Wharf REIC (01997) rose nearly 6%, interest rate cuts boosted trading of new properties.
Most Hong Kong property stocks are rising. As of the time of writing, Wharf REIC (01997) is up 5.94% at HKD 22.3, while New World Dev (00017) is up 4.52% at HKD 7.63.
Zhongyuan Mortgage: Hong Kong banks accelerate the residential mortgage approval process, helping to boost the confidence of home buyers entering the market.
Wang Meifeng said that if home buyers submit their mortgage applications early, they may even have the chance to understand the mortgage approval status before signing the formal purchase contract, reducing the uncertainty of the transaction process and effectively enhancing buyers' confidence in entering the market.
Don't Race Out To Buy Wharf Real Estate Investment Company Limited (HKG:1997) Just Because It's Going Ex-Dividend
Ricacorp Properties: There were 2,558 transactions for second-hand private residential properties in Hong Kong last month, with a stable market. The market is expected to remain under pressure and shrink in the future.
Chen Haichao, head of Lijiagge Real Estate Research Department, said that the cooling effect of the Hong Kong property market has been offset by the high interest rate environment, and the second-hand market is still unlikely to improve temporarily due to the new low-priced properties competing for customers. The market is expected to remain under pressure and stagnant.
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