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| HSI1 | 25,143.05 | +580.81 | 306.41B |
| HSCEI1 | 8,381.90 | +245.17 | 93.65B |
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2026-07-16 12:21:17 China's primary residential market is showing initial signs of stabilization, CLSA published a research report saying. Prices of primary and secondary homes in tier-1 cities have elevated MoM for several consecutive months, while prices of primary homes in tier-2 cities have also stabilized after earlier declines. In June, the number of cities among the 70 major and medium-sized cities where new home prices rose MoM increased to 20, the highest since May 2025. The broker expected SOE developers to continue to outperform, with top picks including CHINA RES LAND (01109.HK), CHINA JINMAO (00817.HK) and YUEXIU PROPERTY (00123.HK). It noted that commodity housing sales value in 1H26 sank 13.6% YoY, while contract sales of SOE developers declined only 2.2% YoY in 1H26, outperforming the broader market. CHINA RES LAND, CHINA OVERSEAS (00688.HK), MERCHANTS SHEKOU (001979.SZ) and CHINA JINMAO have all resumed growth. CLSA assigned a TP of HKD42.4 to CHINA RES LAND, HKD2.43 to CHINA JINMAO, and HKD5.5 to YUEXIU PROPERTY, with all rated Outperform. ~ AASTOCKS Financial News Website: www.aastocks.com | |