Understanding the Market | Chinese property stocks continue to decline, SEAZEN down over 5%, CH OVS G OCEANS down over 4%
Chinese property stocks continue to decline, with SEAZEN falling 5.04% to HKD 2.45, and CH OVS G OCEANS dropping 4.15% to HKD 2.31. The total sales of the top 100 real estate companies decreased by 12.2% year-on-year, but increased by 11.9% month-on-month in September. The market is facing adjustment pressure, and the policy logic remains evident, with some core cities expected to achieve urban structural optimization and connotative development
According to Zhitong Finance APP, domestic property stocks continue to decline. As of the time of writing, SEAZEN (01030) fell by 5.04% to HKD 2.45; CH OVS G OCEANS (00081) fell by 4.15% to HKD 2.31; and Sunac China (01918) fell by 1.82% to HKD 1.62.
In terms of news, the China Index Academy released data showing that from January to September, the total sales of the top 100 real estate companies amounted to CNY 260.659 billion, a year-on-year decrease of 12.2%, with the decline narrowing by 1.1 percentage points compared to January to August. In September alone, the total sales of the top 100 real estate companies increased by 11.9% month-on-month. The China Index Academy stated that in September, core cities continued to optimize demand-side policies, but in terms of market performance, aside from some recovery in core city markets, most cities' real estate markets remained relatively flat, and the market still faces certain adjustment pressures.
Guotai Junan Securities believes that considering the high base period entering in Q4, the requirements for stability, and the context of the Fourth Plenary Session, the policy logic remains evident. Everbright Securities pointed out that by 2025, with the continued implementation of the previous package of real estate policies, local governments' autonomy in real estate regulation will increase, regional and urban differentiation will further deepen, and some high-energy core cities are expected to benefit from urban renewal, achieving optimization and transformation of urban structure and connotative development, gradually realizing "stabilization and recovery."
