Hong Kong Property Stocks Surge Early Session, China Jinmao Jumps Over 6%

Deep News01-05

Hong Kong-listed mainland property stocks experienced a strong upward surge at the opening of the trading session. Zhongliang Holdings Group surged more than 14%, while China Jinmao rose over 6%. Greentown China, Shimao Group, and Sino-Ocean Group each gained over 4%. Country Garden, Ronshine China, Sunac China, and China Resources Land, among others, saw increases exceeding 3%.

Zhongtai Securities analysis suggests that the Ministry of Finance's new value-added tax policy for individual home sales, which exempts VAT on properties held for two years or more, is a contributing factor. Additionally, Shanghai has uniformly and batch-adjusted downward the interest rates on existing housing provident fund loans in accordance with the notice. The analysis maintains that financially sound property developers remain the key investment focus, recommending attention on leading developers with robust financials and strong performance records.

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