Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>HSBC Global Research Foresees More Revival Signs for CN Developers from Oct-Dec Sales
Recommend 34 Positive 65 Negative 11 |
||||
|
||||
|
Sales in China's property market executed well during the National Day Golden Week holiday (October 1-7), reflecting the effectiveness of a series of supportive policies recently unrolled by the authorities, according to a report released by HSBC Global Research. The latest statistics from CRIC showed that sales area in 22 major T1 and T2 cities in mainland China grew by 42% and 23% YoY respectively. Among them, Shenzhen and Guangzhou surged by 242% and 51%, while major T2 cities Hangzhou and Suzhou rallied 373% and 205% respectively. Recovery in sales was mainly propelled by improved market sentiment and potential buyers accelerating their decision to purchase a home. Sales data from October to December will provide more signs of recovery, thanks to policy influences and low bases. Although the market experienced a relatively large correction, the broker believed that the risk/ reward profiles for large-cap developers are becoming more attractive. The broker was bullish on BEKE-W (02423.HK)(BEKE.US), CHINA OVERSEAS (00688.HK), LONGFOR GROUP (00960.HK) and CHINA RES LAND (01109.HK), all of which were given Buy ratings. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
