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Hong Kong Stocks in Focus | Chinese property stocks extend their rally; in May, the year-on-year decline in sales among the top 100 developers continued to narrow; the "15th Five-Year Plan" for urban renewal has been unveiled.
Chinese property stocks continued their upward trend; as of press time, Evergrande Group (00884) was up 6.56% at HK$0.065, while Yuexiu Property (00123) gained 5.72% to HK$4.62.
Hong Kong Stock Market Movers | Mainland China Real Estate Stocks Surge Across the Board as Urban Renewal Plan for the '15th Five-Year' Period Unveiled, Expected to Drive Trillion-Yuan-Scale Investment
Mainland China real estate stocks surged across the board. As of the time of writing, Country Garden (02007) rose 38.76% to HK$0.29; Sunac China (01918) gained 20.22% to HK$1.07; China Vanke (02202) climbed 14.17% to HK$2.90; and CIFI Holdings (00884) increased by 12.07% to HK$0.065.
Analysts Are Betting On CIFI Holdings (Group) Co. Ltd. (HKG:884) With A Big Upgrade This Week
The rebound in mainland real estate stocks continues, with sustained growth in second-hand home transactions. Institutions indicate that positive market factors are continuously accumulating.
Mainland property stocks continued their recent rebound. As of press time, Longfor Group (00960) rose 4.27% to HKD 9.04; R&F Properties (02777) climbed 4.17% to HKD 0.375; China Resources Land (01109) gained 2.65% to HKD 36.44; and Yuexiu Property (00123) increased by 2.07% to HKD 4.43.
Stock Concept Tracker | Continued Growth in Second-hand Housing Transactions; Major Institutions Broadly Optimistic About Valuation Recovery in Domestic Real Estate Sector (with Key Stocks)
According to Iceberg Index data, real-time second-hand transactions during the Golden Week increased by 31% year-on-year, continuing the momentum of a 29% year-on-year increase in April.
The majority of Chinese real estate stocks have risen as multiple regions successively introduced new property market policies, significantly boosting market activity in Beijing, Shanghai, and Shenzhen.
Most real estate stocks in China rose, as of the time of writing. Yuexiu Property (00123) increased by 6.46%, trading at HKD 4.12, while C&D International Investment Group (01908) surged by 6.2%, reaching HKD 15.94.