The Zhitong Finance App learned that domestic housing stocks have collectively declined. As of press release, Sunac China (01918) fell 5.75% to HK$1.64; Vanke Enterprise (02202) fell 4.7% to HK$6.69; R&F Real Estate (02777) fell 4.31% to HK$1.11; and Xincheng Development (01030) fell 1.88% to HK$1.57.
According to the news, after the central bank's new mortgage policy was announced on May 17, many places have implemented relevant policies one after another. Zhang Dawei, chief analyst at Central Plains Real Estate, believes that there are many major policies introduced by the supervisory authorities, but currently only the national Provident Fund policy has been implemented to cut interest rates. As far as the market is concerned, it is still necessary to wait for details on how to implement several other policies in various regions, so it is expected that the impact of the policies will gradually become apparent in the market after this week.
CICC said earlier that considering that there will be a certain time lag and uncertainty from the release of the policy to the effective implementation of fundamentals, the market may also experience a phased correction as the cumulative increase gradually expands. Then, a period of observation of the effects of the policy began. CITIC Securities said that the real estate policy goals in 2024 and the objective environment in which the real estate market is located are different from 2008, but the market-based direction of the policy is consistent. We believe that the balance sheet of the industrial chain has returned to stability, but there is no room for significant growth in orders. It is recommended to focus on the investment value of real estate companies with a high share of land storage in core cities, smooth financing channels, and strong development capabilities.