During the trading session, shares of mainland property stocks rose. As of this report, China Oceanwide Holdings (03377) increased by 13.07% to HKD 0.173; Country Garden (02007) rose by 4.84% to HKD 0.65; China Jinmao (00817) gained 3.27% to HKD 1.58; and Sunac China Holdings (01918) appreciated by 2.91% to HKD 1.77.
According to Zhitong Finance APP, domestic property stocks rose during trading, as of the time of writing, China Oceanwide Holdings Limited (03377) increased by 13.07%, trading at HKD 0.173; Country Garden (02007) rose by 4.84%, trading at HKD 0.65; China Jin Mao Holdings Limited (00817) increased by 3.27%, trading at HKD 1.58; and Sunac China Holdings Limited (01918) rose by 2.91%, trading at HKD 1.77.
In terms of news, on September 5, Shenzhen implemented new housing policies, adjusting housing purchase restrictions and housing credit policies. CITIC Construction Investment pointed out that this new housing policy entails a significant relaxation of purchase restrictions in non-core areas, and commercial loan interest rates will no longer differentiate between first and second homes. In terms of the extent of relaxation compared to previous policies, the new policy in Shenzhen is stricter than the one implemented in Beijing and Shanghai in August. Based on market performance following the new policies in Beijing and Shanghai, this new regulation is expected to provide support for the quantity and price in the Shenzhen housing market.
Kinetic Securities believes that under various policies aimed at stabilizing the real estate market, China’s overall real estate market has been progressing towards stabilization since the beginning of this year. During this process, housing prices may still experience slight fluctuations, but further market stabilization is expected under the impact of policies. With a more proactive fiscal policy and moderately easing monetary policy, the work of stockpiling and urban village renovations is expected to accelerate, improving the existing housing supply-demand relationship and accelerating the process of stabilization.
