Market Insight | Yuexiu Property's morning trading surged by over 4%, the company considers selling Guangzhou Grandview Mall, planning to exchange 12 billion yuan worth of land vouchers in the near future

YUEXIU PROPERTY rose more than 4% in the morning session. As of the time of publication, it has increased by 3.61% to HKD 4.02, with a turnover of HKD 161.641 million. The company is considering a potential transaction for the Guangzhou Trade Center and has already reclaimed two plots of land, amounting to over 12 billion yuan, in exchange for equivalent notes. Bank of America Securities believes that this move can reduce risks and shift to more favorable land positions. The sales of first-hand houses in Guangzhou have cooled down, and future land supply may decrease. It is expected that the market will steadily recover under destocking and loose policies