Movement Alert｜China Overseas Land Intraday Decline 3.05% in Regular Trading, Real Estate Sector Under Sustained Pressure from Weak May Data

Market Focus06-23 11:35

On June 23, China Overseas Land & Investment (00688.HK) fell 3.05% in regular trading, trading at HK$12.73/share, with turnover of HK$244 million. The decline extends the selloff that intensified last week when the stock plunged nearly 9% in a single session.

The persistent weakness is driven by the National Bureau of Statistics May real estate data, which confirmed the industry remains in a bottoming process. On the sales side, January-May new commercial housing sales area fell 10.8% year-over-year, while sales revenue declined 13.5%. On the investment side, national real estate development investment dropped 16.2% YoY. Housing prices in 70 major cities declined 0.2% month-over-month in May, with downward pressure intensifying versus April.

Within the Real Estate Development sector, the overall sector remains under pressure. Among individual stocks, China Resources Land down 3.4%, Longfor Group down 3.79%, C&D International down 3.32%, Henderson Land down 2.34%, and China Jinmao down 3.7%. Analysts note the sector has entered a consolidation phase with limited probability of large-scale policy stimulus in the near term.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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