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2nd-tier CN Homebuilders Rally as Cities Relax Home Mkt Measures; SHIMAO GROUP/ CHINA AOYUAN Rocket 28%/ 41%
Mainland cities have been relaxing their property market measures one after another. Foshan, Guangdong released 13 new real estate policies, including optimising the rules for calc...
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2nd-tier CN Homebuilders Rally as Cities Relax Home Mkt Measures; SHIMAO GROUP/ CHINA AOYUAN Rocket 28%/ 41%
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Mainland cities have been relaxing their property market measures one after another. Foshan, Guangdong released 13 new real estate policies, including optimising the rules for calculating plot ratio, instalment payment of land transfer price, encouraging support for the replacement of old housing units with new ones, and relaxing the policy on household purchase.

Second-tier Chinese property stocks continue to be sought after. SHIMAO GROUP (00813.HK)  +0.010 (+1.282%)   rallied for the third consecutive trading day, opening 2.08% higher today and peaking at $1.31. It now trades at $1.23, skyrocketing 28.13%, with 332 million shares traded, involving $390 million. Today's high is 1.9x higher than last Wednesday's (8 May) closing price of $0.45.

Related NewsCiti Opens 30D Positive Catalyst Watch on CHINA RES LAND (01109.HK)
CHINA AOYUAN (03883.HK)  +0.002 (+1.156%)   opened 5.56% higher and further expanded its gains, logging a high at $0.26. It now trades at $0.255, surging 41.67%. CHINASOUTHCITY (01668.HK)  0.000 (0.000%)   trades now at $0.35, mushrooming 18.64%. KAISA GROUP (01638.HK)  -0.002 (-1.515%)   stands now at $0.156, soaring 23.81%. AGILE GROUP (03383.HK)  0.000 (0.000%)    Short selling $874.38K; Ratio 13.381%   anchors now at $0.7, rising 4.48%.

Meanwhile, top-tier mainland homebuilders are under pressure. CHINA OVERSEAS (00688.HK)  -0.360 (-2.528%)    Short selling $59.40M; Ratio 22.702%   trades now at $15.02, dropping 2.47%. CHINA RES LAND (01109.HK)  -0.250 (-0.924%)    Short selling $102.00M; Ratio 39.619%   is now trading at $31.05, descending 3.27%. CHINA VANKE (02202.HK)  -0.040 (-0.787%)    Short selling $5.64M; Ratio 4.514%   is now anchoring at $4.92, falling 1.2%.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-18 16:25.)

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