No Data
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%.
Guangdong: Implementing the policies for withdrawing public housing funds for purchasing homes in different locations and for obtaining loans from public housing funds in different locations.
The General Office of the People's Government of Guangdong Province issued the "Guangdong Province Economic Promotion and Continuous Improvement Service Plan for Strengthening Domestic Circulation," which mentions encouraging localities to combine actual conditions to provide housing subsidies, consumption vouchers, etc., to increase support for first-time homebuyers, families with multiple children, families supporting elderly dependents, and rural migrant populations. The plan mentions implementing policies for cross-city housing provident fund loans and withdrawals for purchasing properties, reasonably increasing the loan limits for housing provident funds, and supporting contributors in applying for personal housing loans while withdrawing from their housing provident fund to pay for down payments. It also promotes "upgrading housing" and accelerates the development of the second-hand housing market.
[Brokerage Focus] HTSC: The actual scale of stock housing storage is limited, more bullish on the recovery pace of core cities represented by first-tier cities.
Jinwu Financial News | HTSC stated that since the central government proposed the policy for the acquisition of existing housing in May 2024, several provinces and cities have introduced detailed regulations, but the actual scale of implementation has been limited. This year, the central government further optimized the acquisition policy, granting local governments greater autonomy in terms of acquisition subjects, pricing, and purposes. At the same time, the central bank has lowered the re-lending rate for affordable housing by 25 basis points to 1.5%. Since May, there have been increasing cases where local governments utilize special Bonds, funds for urban village renovation, and other financial resources to support the acquisition of existing homes, but there is still significant room for improvement in the scale of implementation from the beginning of the year to now. The institution looks forward to continued optimization and efforts in the policy.
Express News | China Vanke Co.,Ltd.: Exercising the redemption option for the '0.22 million科05' corporate bond.
Hong Kong Stock Midday Review | The three major Indexes opened low and rose, with the technology Index closing flat; semiconductor stocks rose, HUA HONG SEMI increased by over 7%; new consumption Concept stocks warmed up, with Lao Pu Gold rising by over 7
Network Technology stocks generally declined, with Alibaba-W down 1.61% and JD-SW down 1.43%; restaurant stocks rose across the board, with Little Garden up 10.73% and DPC DASH up 4.87%; shipping and port stocks rose as well, with PACIFIC BASIN up 20.30% and Dexion Ocean up 5.78%.
