Domestic housing stocks declined in early trading. As of press release, R&F Group (02777) fell 8.27% to HK$1.22; Ocean Group (03377) fell 7.94% to HK$0.58; Metro Development (01030) fell 5.81% to HK$1.62; and Vanke Enterprise (02202) fell 1.9% to HK$6.71.
The Zhitong Finance App learned that domestic housing stocks declined in early trading. As of press release, R&F Group (02777) fell 8.27% to HK$1.22; Ocean Group (03377) fell 7.94% to HK$0.58; Metro Development (01030) fell 5.81% to HK$1.62; and Vanke Enterprise (02202) fell 1.9% to HK$6.71.
According to the news, on May 17, the central bank issued three major notices relating to real estate, respectively on lowering interest rates for personal housing provident fund loans, lowering the minimum down payment ratio for personal housing loans, and abolishing the lower interest rate policy limit for personal housing loans.
Guotai Junan Securities released a research report saying that the policies currently in place will help improve fundamental expectations of real estate, and follow up on the use of financial instruments and the progress of local “trade-in.” CICC said that real estate stocks have recently shown a rapid recovery driven by policy, and it is expected that there will still be further upward momentum in the short term. Considering that there will be a certain time lag and uncertainty from the release of the policy to the effect of fundamentals, there may also be a phased correction in the market as the cumulative increase gradually expands. Then, a period of observation of the effects of the policy began.