Domestic property stocks generally weak, CIFI continues to drop by 10%, CHINA VANKE rises 2.6% against the trend

The market is focused on geopolitical issues. After the holiday, on the evening of the 20th, the three major U.S. stock indices all fell. The Hong Kong stock market opened lower this morning (21st), with the Hang Seng Index opening down 90 points. It briefly rose 79 points during the early session, reaching a high of 26,567 points before encountering resistance. It is currently reported at 26,435 points, down 52 points or 0.2%, with a turnover of HKD 96.386 billion.

The three major blue-chip property stocks were relatively weak, with Longfor (00960.HK), R&F Properties (01109.HK), and China Overseas (00688.HK) falling between 0.5% and 1.9%. The blue-chip property management stock, Vanke Life (01209.HK), rose slightly by 0.2%, with a turnover of HKD 66.735 million.

CIFI HOLD GP (00884.HK) saw a significant drop of 16% after a large transaction on the previous day (20th). This morning (21st), it opened flat but significantly declined, hitting a low of HKD 0.114, a record low since its listing. It is currently reported at HKD 0.122, down 10.29%, with active trading reaching 127 million shares, involving HKD 15.652 million.

Other major domestic property stocks showed mixed performance, with Country Garden (02007.HK) and China COSCO (03377.HK) falling between 1% and 1.6%, while Yuexiu Property (00123.HK) slightly declined by 0.2%. New Town Development (01030.HK), Sunac (01918.HK), and Shimao (00813.HK) remained stable, while Jinmao (00817.HK) rose by 0.7%.

CHINA VANKE (02202.HK) rose by 2.6%, outperforming its peers, as its first domestic bond extension proposal was approved by bondholders, which includes the repayment of 40% of the principal within the month. According to an announcement by CHINA VANKE on the Shenzhen Stock Exchange, 92.11% of bondholders voted in favor of the proposal to adjust the repayment arrangement for the "21 Vanke 02" bond. Under this plan, 40% of the principal of the repurchased bonds will be repaid on January 30, while the remaining 60% is proposed to be extended for one year, to be repaid on January 22, 2027.

According to Bloomberg data, the original repurchase maturity date for this bond was January 22. The approval of this extension plan means that the extension plans for two other medium-term notes are also likely to receive support. For this large property company with interest-bearing liabilities of up to USD 50 billion, it has gained breathing space to avoid default