Hong Kong Property Stocks Weaken, Radiance Hldgs Plunges Over 13%

Stock News14:00

Hong Kong-listed mainland property stocks showed weakness. At the time of writing, Radiance Hldgs (09993) fell 13.12% to HK$2.45. Ronshinechina (03301) declined 4.55% to HK$0.105. Seazen (01030) dropped 2.45% to HK$1.99.

The movement follows a report from Dongfang Jincheng, which noted a sharp acceleration in the downturn for real estate investment in April. The completed amount of real estate development investment saw a year-on-year decline widening to 20.1%. Funding sources for real estate development in the same period fell significantly by 21.9% year-on-year. While the year-on-year declines for domestic loans, down payments and advance receipts, and individual mortgage loans continued to narrow, the drop in self-raised funds expanded notably. Three key commencement indicators maintained double-digit year-on-year declines. Land market activity remained subdued, with second-tier cities still accounting for the majority of transactions for the month. The analysis suggests that a sustained, trend-driven recovery in the property market still depends on continued policy support and the restoration of market confidence.

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.

Comments

We need your insight to fill this gap
Leave a comment