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Hong Kong stock market closing review: Continues to be bullish! Hang Seng Tech Index rose by 8.53%, with brokerages and real estate still the most eye-catching.
The Hang Seng Index surged by 6.2%, reaching 22,000 points, while the National Index rose by 7.08%.
HSBC Upgrades Agile Group Holdings to Hold From Reduce, Price Target Is HK$0.70
Consolidated Equipment Group Announces Acquisition of Agile Manufacturing
Hong Kong stocks surged | Mainland real estate stocks collectively opened higher, existing home loan interest rate cuts clarified, and new real estate policies introduced in three major first-tier cities.
Mainland real estate stocks opened collectively high, China Vanke (02202) rose by 14.99%, to 7.67 Hong Kong dollars; Longfor Group (00960) rose by 14.87%, to 15.76 Hong Kong dollars; Sino-Ocean GP (03377) rose by 14.81%, to 0.31 Hong Kong dollars.
Kerui: Real estate sets the tone for 'stabilizing and rebounding.'
The Central Political Bureau meeting of the Communist Party of China pointed out that it is necessary to reduce the reserve requirement ratio, implement a substantial interest rate cut, and adjust down housing transaction taxes and fees. In this round, various types of taxes and fees related to housing transactions such as deed tax, value-added tax, personal income tax, etc. are reduced or exempted to promote housing consumption. For example, individuals purchasing the only residence are exempt from deed tax, while families purchasing the second or large-area improvement housing are eligible for a partial deed tax reduction. Additionally, measures such as shortening the duration of value-added tax and personal income tax exemption for housing transactions.
Hong Kong stock market concept tracking | Existing home loan interest rate cut imminent, real estate sector accelerates stabilization and valuation repair (with concept stocks)
Industry insiders predict that the specific plan for lowering the interest rates on existing housing loans is unlikely to be introduced before the "National Day" holiday.
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