JPM: Shenzhen Property Policy Easing; Favors CHINA OVERSEAS and CHINA JINMAO

JPMorgan published a research report stating that Shenzhen rolled out a new round of property support measures yesterday (29th), seven months after the city last relaxed policies in September last year. The move was in line with market expectations, as Beijing and Shanghai introduced similar adjustments in December last year and February this year, respectively. However, the degree of easing in Shenzhen is stronger than that in Beijing and Shanghai. The bank expects local transaction volumes and property prices to improve for at least one to two months.The report noted that the relaxation of purchase restrictions in Shenzhen mainly targets non-local residents, with relatively stronger easing. For example, non-local households are only required to provide one year of tax payment proof to purchase up to three units in restricted areas. In comparison, Shanghai requires three years of tax payment proof and allows the purchase of up to two units (within the outer ring), while Beijing requires two years of tax payment proof and permits the purchase of only one unit (within the fifth ring).The bank believes that many investors are no longer focusing on the short-term impact of local policy easing, but are instead expecting potential endogenous improvement in the market. Over the next three to six months, the bank favors CHINA OVERSEAS (00688.HK) -0.130 (-0.974%) Short selling $220.16M; Ratio 26.716% , whose share price has lagged but has delivered outstanding sales performance year to date, as well as CHINA JINMAO (00817.HK) +0.010 (+0.599%) Short selling $12.34M; Ratio 10.214% , whose sales momentum is expected to remain strong. The bank also has a positive view on CHINA RES LAND (01109.HK) -0.360 (-1.092%) Short selling $186.93M; Ratio 20.040% and CHINA RES MIXC (01209.HK) -0.560 (-1.172%) Short selling $36.18M; Ratio 32.839% .JPMorgan added that in light of recent improvements in market indicators, such as secondary transaction volumes and prices, it does not expect nationwide easing policies to be introduced in the near term. (hc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-29 16:25.)This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.