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<Research>JPM Likes POLY PPT SER/ CHINA RES MIXC/ GREENTOWN SER/ CR LAND; POE CN Developers See Shr Placing Risk in ST
Recommend 6 Positive 9 Negative 4 |
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The Chinese authorities recently launched another package of property market support measures, JPMorgan issued a research report saying. Although it is believed that the effect of the policies may not be sufficient to trigger a large-scale economic recovery in the short term, JPMorgan believed that this has already demonstrated the authorities' firmer determination to support the property market, which will help to alleviate the downside pressure on the economy. China's property sector rebounded recently, and JPMorgan expected that the sector may still be on an uptrend in the near term. However, as some private developers have already been valued at a higher level, the industry may take a breather, while the potential share placements by private Chinese developers will be a major downside risk for the industry in the near term. JPMorgan focused on companies with defensive profitability and potential dividend growth, including POLY PPT SER (06049.HK), CHINA RES MIXC (01209.HK), GREENTOWN SER (02869.HK) and CHINA RES LAND (01109.HK), all of which are rated Overweight. AAStocks Financial News |
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