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Next China, Hong Kong Stock Rally Will Likely Need Concrete Property Sector Policy
Hong Kong and China's stock market rally in May was driven by the re-rating of valuations to a more normalized level from the extremely bearish sentiment and investor positioning, thanks to the govern
Hong Kong stock market anomaly | Shimao Group (00813) fell nearly 6%, leading the decline in mainland real estate stocks, and commodity residence prices in various cities continued to adjust in May.
According to the Smart Finance and Economics APP, mainland real estate stocks fell collectively. As of press time, Shimao Group (00813) fell by 5.88%, reporting HKD 0.8; Sino-Ocean GP (03377) fell by 4.04%, reporting HKD 0.475; Sunac (01918) fell by 3.17%, reporting HKD 1.22; China Vanke (02202) fell by 3.02%, reporting HKD 5.14. In terms of news, data from the National Bureau of Statistics showed that in May, among the 70 large and medium-sized cities, the sales prices of commodity residences in various cities fell month-on-month, with a slightly expanded year-on-year decline. In May, the sales price of new commodity residences in first-tier cities fell on a ring basis.
Express News | Sunac : Bondholders Approve Co Plans to Delay Payments for Two Onshore Bonds - Exchange
China's SOEs Buying Excess Property a Major Step Forward in Rescue Plan
China's state-owned enterprises buying excess housing from the market could be a big leap forward in rescuing the country's property sector as it opens the door for direct public financing, ANZ Resear
Sunac China (01918) issues a total of 167 million shares of mandatory convertible bonds to conversion holders for conversion into shares.
Sunac issued $2.75 billion in mandatory convertible bonds overseas as part of the company's debt restructuring plan. Within the first conversion period, the company received a conversion notice for a total principal amount of $1.904 billion, accounting for approximately 69.23% of the initial issuance of mandatory convertible bonds. The mandatory convertible bonds with a total principal amount of $1.904 billion have been converted into 2.475 billion shares. After this conversion, the remaining mandatory convertible bonds with the principal amount that has not been converted yet
HK stocks are fluctuating. Mainland real estate continues to decline. New housing transactions during the Dragon Boat Festival holiday are lower than expected. It remains to be seen whether the effects of the real estate policy will continue.
Mainland real estate stocks continue to weaken. As of press time, China Overseas Development (00688) fell by 4.08%, reporting HKD 14.58; Sunac (01918) fell by 4%, reporting HKD 1.2; Shimao Group (00813) fell by 3.66%, reporting HKD 0.79.
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