GREENTOWN CHINA's stock plummeted 5.45% during the intraday session on Tuesday, reflecting broader declines in Hong Kong's mainland property sector. The drop aligns with a collective downturn in property stocks, including CH OVS G OCEANS and SEAZEN, as investor sentiment weakened.
A recent report highlighted that total land acquisitions by China's top 100 developers grew 14.1% year-on-year from January to November, but the growth rate slowed significantly compared to the January-October period. This slowdown, coupled with subdued developer investment appetite, has pressured the sector. CLSA noted that stabilizing sales is crucial to rebuilding industry confidence, projecting a narrower contraction in new construction starts for 2026.
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