On July 9, China Overseas Land & Investment declined 3.03% in regular trading, trading at 12.5 HKD/share, with turnover of 168 million HKD. The pullback came one day after the stock rose 3.88% on the release of first-half operating data.
While the company reported cumulative contracted sales of approximately 134.35 billion yuan for H1, up 11.8% year-over-year, the June data revealed a notable deceleration in momentum. June contracted sales grew just 5.5% compared to 14.4% in May and 20% in April. More notably, June sales area plunged 28.7% year-over-year to 978,100 square meters, reflecting a price-volume divergence. Cumulative sales area for H1 also declined 12.1%.
The broader real estate development sector faced widespread selling pressure, with Sunac China down 3.39%, Henderson Land down 2.43%, and China Resources Land down 2.23%, while CK Asset edged up 0.27%.
(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.)
Comments