Industrial and Commercial Bank of China and Agricultural Bank Of China of China adjusted the discount on first-home mortgage rates in Shanghai from 5 per cent to 10 per cent on Aug. 9, releasing benefits for first-time buyers.
Affected by this, Hong Kong An and the real estate sector of the two cities opened high.
Dongguan Securities pointed out that in the context of continued market regulation and contraction of the credit environment, future sales to the leading housing enterprises are expected to be higher, market concentration continues to increase, and the stronger the stronger the trend will continue. At the same time, the overall valuation of real estate stocks at the bottom of the history of the overall opportunity is greater than the risk. The valuation level of A-share listed leading real estate stocks is in a historically low position. In the process of accelerating the improvement of industry concentration, the expectation of performance growth is still high and the valuation will be strongly supported.
This morning, the outlook of Futu Port also mentioned the interpretation of Shanghai's reduction in lending rates.
A lot of macro news yesterday, on the contrary, ICBC, which has a relatively small range of influence, and Agricultural Bank Of China adjusted the discount on the interest rate of the first home in Shanghai on the same day. To interpret it, there are two meanings behind it: one is that the liquidity of the banking system is now very sufficient, and the other is that the real estate policy is tight-lipped, but the actual implementation flexibility has been enhanced. Precision shed reform was also mentioned at the meeting of the Ministry of Housing and Construction. As for what is accurate, I am afraid it is accurate in accordance with "needs". Evergrande Rongchuang's two companies have performed extremely strongly in recent days, especially Evergrande, which plans to pay dividends. Assuming that according to the usual 50% dividend ratio, the dividend amount reaches 14.7 billion and the dividend rate is 5%, this is already very attractive. The medium-term profit performance of Agile and R & F, which announced yesterday, is also impressive. The property sector's valuation repair is not over yet.