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<Research>CICC Bullish on CN Developers on Improving Fundamentals and Policy Tailwinds
Recommend 48 Positive 70 Negative 18 |
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HK-listed leading Chinese property developers advanced this morning (1st). CHINA OVERSEAS (00688.HK) was last at HKD15.93, up 1.98%, with 23.6806 million shares traded, involving HKD376 million. LONGFOR GROUP (00960.HK) was last at HKD8.04, up 2.42%, with 8.383 million shares traded, involving HKD66.7485 million. CHINA RES LAND (01109.HK) was last at HKD36.24, up 2.6%, with 20.1117 million shares traded, involving HKD726 million. CICC published a report noting that both A-share and H-share Chinese property developers escalated last Friday (29th). On the same day, the State Council released the "Urban Renewal 15th Five-Year Plan". The broker believed the current rally in the sector has been driven mainly by three factors: improving fundamentals, policy tailwinds, and capital rotation. Bullish on the property sector, CICC stated that the sector is amid the mid-stage of a rising Beta trend, while improvements in sales volume and prices will serve as catalysts for the next phase of growth in the sector. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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