Hong Kong Stocks Extend Losing Streak; Property Firms Lead Decline on Disappointing Support Measures

MT Newswires Live10-17

Hong Kong stocks fell for a third day straight with investor sentiment remaining skittish as new support measures for the property sector failed to impress.

The Hang Seng Index fell 1.02%, or 207.75 points, at 20,079.10. The Hang Seng China Enterprises index lost 1.22%, or 88.54 points, at 7,179.44.

At a press conference by China's housing ministry, Minister Ni Hong announced policy measures to bolster the faltering property sector.

The measures revolve around loosening buying regulations, enhancing funding for distressed property developers, securing timely home completions, and cutting mortgage rates to restore homebuyer confidence, according to an SCMP report.

The ministry is also anticipating the growth of loans for "white list" real estate projects to 4 trillion yuan by the end of 2024.

Some analysts were disappointed with the announcement, with investors remaining on edge and the market expected to remain volatile in the upcoming days.

Bruce Pang, chief economist and head of research of Greater China at JLL, referred to the measures as the "fine-tuning" of existing policies, stating that the actual conversion of improved sales volumes and price into investment and construction will take time, CNBC reported Thursday.

In corporate news, property companies which had risen on Wednesday fell once again after the disappointing media address. Sunac China (HKG:1918), China Vanke (HKG:2202, SHE:000002) and Longfor Group (HKG:0960) plunged 27%, 17%, and 14% respectively.

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

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2476190879?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-17 16:48","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2476190879","market":"sg","top_or_hot":-1,"title":"Hong Kong Stocks Extend Losing Streak; Property Firms Lead Decline on Disappointing Support Measures","media":"MT Newswires Live","content":"<html><body><p> Hong Kong stocks fell for a third day straight with investor sentiment remaining skittish as new support measures for the property sector failed to impress.</p><p>The Hang Seng Index fell 1.02%, or 207.75 points, at 20,079.10. The Hang Seng China Enterprises index lost 1.22%, or 88.54 points, at 7,179.44.</p><p>At a press conference by China's housing ministry, Minister Ni Hong announced policy measures to bolster the faltering property sector.</p><p>The measures revolve around loosening buying regulations, enhancing funding for distressed property developers, securing timely home completions, and cutting mortgage rates to restore homebuyer confidence, according to an SCMP report.</p><p>The ministry is also anticipating the growth of loans for \"white list\" real estate projects to 4 trillion yuan by the end of 2024.</p><p>Some analysts were disappointed with the announcement, with investors remaining on edge and the market expected to remain volatile in the upcoming days.</p><p>Bruce Pang, chief economist and head of research of Greater China at JLL, referred to the measures as the \"fine-tuning\" of existing policies, stating that the actual conversion of improved sales volumes and price into investment and construction will take time, CNBC reported Thursday.</p><p>In corporate news, property companies which had risen on Wednesday fell once again after the disappointing media address. Sunac China (HKG:1918), China Vanke (HKG:2202, SHE:000002) and Longfor Group (HKG:0960) plunged 27%, 17%, and 14% respectively.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Stocks Extend Losing Streak; Property Firms Lead Decline on Disappointing Support Measures</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Stocks Extend Losing Streak; Property Firms Lead Decline on Disappointing Support Measures\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-17 16:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong stocks fell for a third day straight with investor sentiment remaining skittish as new support measures for the property sector failed to impress.The Hang Seng Index fell 1.02%, or 207.75 ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00960","symbol_name":"龙湖集团","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2476190879","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476190879","pubTimestamp":1729154913,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Hong Kong stocks fell for a third day straight with investor sentiment remaining skittish as new support measures for the property sector failed to impress.The Hang Seng Index fell 1.02%, or 207.75 po","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"513600":"恒生指数ETF","00960":"龙湖集团","BK0196":"行业龙头","02202":"万科企业","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","BK1589":"北水核心资产","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","BK0180":"装配式建筑","BK0028":"国家队","BK1507":"粤港澳大湾区","BK0178":"特色小镇","BK0086":"举牌","02833":"恒指ETF","CFA.SI":"NikkoAM-STC Asia REIT","000002":"万科A","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","01918":"融创中国","BK0174":"增持","BK0188":"融资融券","HSI":"恒生指数","BK1240":"房地产开发","BK0187":"一线龙头","BK1555":"内房股","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK0273":"房地产","BK1521":"挪威政府全球养老基金持仓","BK0157":"深圳前海新区"},"translate_title":"港股延续连跌；房地产公司因支持措施令人失望而领跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"513600":0.6,"CFA.SI":1,"00960":0.9,"01918":0.9,"02202":0.9,"000002":0.9,"HSI":0.9,"HHImain":0.6,"MCHmain":0.6,"02833":0.6},"content_text":"Hong Kong stocks fell for a third day straight with investor sentiment remaining skittish as new support measures for the property sector failed to impress.The Hang Seng Index fell 1.02%, or 207.75 points, at 20,079.10. The Hang Seng China Enterprises index lost 1.22%, or 88.54 points, at 7,179.44.At a press conference by China's housing ministry, Minister Ni Hong announced policy measures to bolster the faltering property sector.The measures revolve around loosening buying regulations, enhancing funding for distressed property developers, securing timely home completions, and cutting mortgage rates to restore homebuyer confidence, according to an SCMP report.The ministry is also anticipating the growth of loans for \"white list\" real estate projects to 4 trillion yuan by the end of 2024.Some analysts were disappointed with the announcement, with investors remaining on edge and the market expected to remain volatile in the upcoming days.Bruce Pang, chief economist and head of research of Greater China at JLL, referred to the measures as the \"fine-tuning\" of existing policies, stating that the actual conversion of improved sales volumes and price into investment and construction will take time, CNBC reported Thursday.In corporate news, property companies which had risen on Wednesday fell once again after the disappointing media address. Sunac China (HKG:1918), China Vanke (HKG:2202, SHE:000002) and Longfor Group (HKG:0960) plunged 27%, 17%, and 14% respectively.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"Policy And Regulatory","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2476190879"}