The Zhitong Finance App learned that domestic housing stocks continued to decline in early trading. As of press release, Jinhui Holdings (09993) fell 13.5% to HK$3.46; R&F Real Estate (02777) fell 6.31% to HK$1.04; Sunac China (01918) fell 4.94% to HK$1.54; Vanke Enterprise (02202) fell 4.4% to HK$6.52.
Credit Bank (Hong Kong) pointed out that the central government has introduced a series of nationwide relaxation measures, including policies such as lowering interest rates on provident fund loans and down payment loan ratios, increasing the central bank's 300 billion reloans for affordable housing, and opening lower interest rate limits for mortgage loans. Overall, this demand-side relaxation is nationwide, while the supply-side focus is on removing inventory. The bank believes that after nearly two years of adjustments, the actual results of the property warranty have been limited, and the expectations of potential buyers have dropped to a freezing point. The current policy is likely to have more positive effects on the sales and supply of second-hand housing, and the likely impact on new home sales still needs to be observed. We are paying more attention to the signal effect of this policy on the conversion of old and new kinetic energy in real estate.
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. A period of observation on the effects of the policy followed. 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.