GO
| HSI1 | 23,919.50 | 0.00 | -- |
| HSCEI1 | 8,057.59 | 0.00 | -- |
| Back Zoom + Zoom - Block Traded | |
|
2026-11-03 12:47:08 Morgan Stanley issued a research report saying that China's existing home price decline accelerated in October, while leading indicators were mixed. CREIS 100-city existing home prices fell 0.61% MoM (vs a 0.6% decline in September), marking the sixth consecutive month of accelerating declines, in line with the broker's expectations; prices fell 6.7% YoY and were down 4.9% YTD. Although existing home transaction volumes remained resilient, the top 10 cities recorded a larger MoM decline of 0.66% (vs a 0.54% decline in September). The broker expected that even with slower launches of new projects and support from mortgage subsidies, the weak macro environment would continue to weigh on home prices through year-end. Morgan Stanley noted that weakness in listing prices continued to drag transaction prices lower. Existing home listing prices in an 85-city sample fell another 0.6% MoM, while declining 7.8% YoY and 5% YTD. The downtrend remained broad-based, affecting nearly all cities, although the proportion of cities with accelerating declines narrowed to 38% from 52% in September. New existing home listings edged down 2% MoM, while total listings across around 50 cities were broadly stable, slipping 0.2% MoM. Visits to agency branches across 34 cities rose 13% MoM and 3% YoY, reflecting a seasonal rebound. The broker expected existing home transactions to remain solid both MoM and YoY in the coming months, supported by slower launches of new projects, stronger benefits to the existing home market from mortgage subsidies, and an easier comparison base, which should further lift the market share of the existing home segment. The broker expected mainland property stocks to remain under pressure for the rest of the year (with an average decline of 14% in October), due to disappointing effects from mortgage subsidies, limited near-term catalysts, and weak fundamentals but relatively high valuations among certain SOE developers such as MERCHANTS SHEKOU (001979.SZ). The broker continued to advocate a selective strategy and favored alpha opportunities with credible self-help measures, such as CHINA RES LAND (01109.HK) and SEAZEN (01030.HK). The sector rating was maintained at "In-Line" (Equalweight). (da/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese 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. | |