The decline in domestic housing stocks widened in the afternoon. As of press release, Jinhui Holdings (09993) fell 8% to HK$1.84; Yuexiu Real Estate (00123) fell 4.98% to HK$4.58; and Shimao Group (00813) fell 4.04% to HK$0.475.
The Zhitong Finance App learned that the decline in domestic housing stocks increased in the afternoon. As of press release, Jinhui Holdings (09993) fell 8% to HK$1.84; Yuexiu Real Estate (00123) fell 4.98% to HK$4.58; Shimao Group (00813) fell 4.04% to HK$0.475; and Vanke Enterprise (02202) was 3.35% to HK$5.49.
According to the news, the National Bureau of Statistics recently released the national real estate development investment and sales data for January-February 2024. The national real estate development investment for January-February 2024 was 1184.2 billion yuan, down 9% year on year; the January-February construction area was 94.29 million square meters, down 29.7% year on year; January-February commercial housing sales area was 113.69 million square meters, down 20.5% year on year; January-February sales amount was 105.66 billion yuan, down 29.30% year on year.
Galaxy Securities pointed out that sales, commencement, and completion of construction from January to February 2024 are all under pressure. Affected by factors such as low sales and extreme weather at the beginning of the year, the overall performance of the industry was poor. Around the Spring Festival, high-energy cities introduced demand-side relaxation policies one after another. The 5-year LPR was lowered beyond expectations, and the urban real estate financing coordination mechanism accurately supported real estate projects. The bank believes that the industry is expected to be positively affected. Leading housing enterprises showing excellent operation and management capabilities have financial advantages, and the market share is expected to rise further.