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<Research>JPM Likes CHINA RES LAND/ CHINA RES MIXC/ CHINA JINMAO; CN Property Sector Likely to Keep Outperforming Until Apr
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Chinese property developer stocks were on the rise this morning, which the market speculated to be linked to the decision by Chinese authorities to no longer require developers to submit the monthly "Three Red Lines" compliance reports, according to a JPMorgan report. From JPMorgan's perspective, however, this news alone wasn't enough to explain the market movement, as Chinese authorities had already scrapped such regular reporting years ago. In other words, this news wasn't new information. That said, JPMorgan stressed it couldn't rule out that the rise might be driven by other market rumors, but no relevant information was available at the time when it wrote this report. Regarding the Chinese property sector, JPMorgan reiterated that its performance may continue to outpace the market until the Two Sessions in March and the CCP Politburo meeting in April. It is optimistic about CHINA RES LAND (01109.HK), CHINA RES MIXC (01209.HK), and CHINA JINMAO (00817.HK), but believes that LONGFOR GROUP (00960.HK) offers the best risk-reward in a policy-driven market. AAStocks Financial News |
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