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Chinese real estate stocks expanded their gains in the afternoon, and policies to stabilize the housing market are expected to take further effect. Institutions are bullish on the recovery pace of core cities.
The gains of mainland property stocks expanded in the afternoon. As of this report, AGILE GROUP (03383) rose by 6.17% to HKD 0.43; CH OVS G OCEANS (00081) rose by 5.95% to HKD 1.78; GREENTOWN CHINA (03900) rose by 4.94% to HKD 9.95; R&F PROPERTIES (02777) rose by 4.21% to HKD 0.99; CHINA VANKE (02202) rose by 3.54% to HKD 4.97.
Hong Kong real estate stocks rose during the session, as Powell stated that he does not rule out the possibility of an early rate cut, and Institutions have raised the Target Price for Hong Kong real estate stocks.
On the news front, during the first day of the "special" congressional hearing on the Federal Reserve's monetary policy, Fed Chairman Powell did not comment on the possibility of a rate cut at the next Federal Reserve meeting in July. A research report from Bank of America Securities indicates an increase in the target price of Hong Kong real estate stocks, with an average increase of 12%.
China's Real Estate Recovery Isn't Happening Everywhere. Which Cities Are Bouncing Back -- and Which Ones Aren't. -- Barrons.com
The allocation-type housing can be adjusted to become Commodities in proportion. Shenzhen has issued new regulations to release the liquidity of existing projects.
① Sun Hongmei pointed out that this policy is an important measure to implement the national "New Housing Reform" Global Strategy and optimize the local housing supply structure. For urban renewal units involving demolition and reconstruction, the developers can choose one of the two types of affordable housing conversion rules, provided that they meet the corresponding requirements; ② "For existing projects, the adjustment of affordable housing can allow qualifying portions to be converted into Commodities, which is partly to ensure that existing projects can start as soon as possible."
Dongfang Jincheng: The LPR Quote in the mainland for June remained unchanged as expected, and it is anticipated that there may be a unilateral reduction in the LPR Quote for five years and above in the second half of the year, which could stimulate housin
The mainland credit rating Institutions Dongfang Jincheng published a report indicating that this morning, the People's Bank authorized the National Interbank Lending Center to announce the new version of the LPR Quote, with the one-year term reported at 3% (the same as in April) and the five-year term reported at 3.5% (also the same as in April). Dongfang Jincheng pointed out that the LPR Quotes for the two maturities in June remained unchanged, in line with market expectations. The main reason is that after the People's Bank implemented a policy interest rate cut in May, the LPR Quotes for both maturities were adjusted downward simultaneously that month, which is currently being transmitted to loan interest rates; the policy rates in June remained unchanged, and there haven't been significant factors affecting the LPR Quote adjustments.
A short-term policy observation period has begun, and the June LPR Quote remains unchanged. The industry expects that interest rates may continue to be lowered in the second half of the year, leading to a reduction in the LPR.
① After the central bank implemented a policy interest rate cut in May, the LPR quotes for both term products were adjusted downward simultaneously that month, and it is currently being transmitted to loan interest rates; in June, the policy interest rate remained unchanged, and the factors affecting the LPR quotes did not experience significant changes, thus the LPR quotes for both term products remaining unchanged in June aligns with market expectations. ② We expect that in the short term, there will be a policy observation period, and the LPR quotes may continue to remain stable.
