K. Wah International Holdings: It is expected that Hong Kong property prices will remain stable in the first half of the year, and if interest rates are lowered in the second half, it will support an increase in property prices.
Huang Guangyao stated that the Hong Kong property market is expected to remain dominated by new units this year, thus property prices will stay stable in the first half of the year. When the situation of developers clearing inventory is relatively ideal, prices are expected to increase. Additionally, it is estimated that there will still be opportunities for interest rate cuts in the second half of the year, all of these factors support the rise in property prices.
Debon Securities: PMI has remained in the expansion Range for three consecutive months.
Current attention is still needed on the changes in expectations. With the calibration of policy dynamics and the gradual strengthening of the process, the possibility of the economy converging to expectations is greater.
Hong Kong's Retail Sales Drop Over 7% for November
The central bank has completed the second swap convenience operation bidding with an amount of 55 billion yuan.
According to the People's Bank of China, to better play the stabilizing role of securities Fund Institutions, the People's Bank of China, along with the China Securities Regulatory Commission, is continuously promoting the implementation of swap convenience for securities, Funds, and Insurance companies.
PBOC Seen Delaying RRR Cut After Adding Liquidity Via New Tools
At the beginning of the year, the liquidity gap exceeded 1.3 trillion, and the funding situation may tighten temporarily in January, increasing the probability of a reserve requirement ratio cut before the Spring Festival.
① In January 2025, there will be at least 1648.2 billion yuan maturing in the open market, including 653.2 billion yuan of reverse repos and 995 billion yuan of MLF. Today, the central bank's open market reverse repos had a net absorption of 273.8 billion yuan. ② Even without a reserve requirement ratio cut, the central bank may use various tools such as outright reverse repos and government bonds purchases to stabilize fluctuations in liquidity.
