The Zhitong Finance App learned that the Associated Press Group (01200) fell by more than 10%. As of press release, it was down 9.18% to HK$0.89, with a turnover of HK$3.194,400.

According to the news, the Associated Press Group announced that the company and some group members initiated judicial review proceedings against the Competition Commission on March 18 on the grounds that the Competition Commission denied them the opportunity to fully cooperate with the Competition Commission, which led to the denial of fair procedures. Meanwhile, the respondent in the Competition Tribunal's legal proceedings applied for permanent termination or withdrawal of the Competition Tribunal proceedings on the same day. According to reports, in November of last year, the Hong Kong Competition Commission filed a lawsuit against Midland Properties, its management, and Hong Kong Real Estate Buyers for allegedly colluding with the two real estate agencies to set the commission rate.

In addition, J.P. Morgan Chase released a research report saying that in the past month, there have been reports that both hand and second-hand residential transactions have slowed down in the past month, causing Hong Kong real estate stock prices to outperform the Hang Seng Index by about 2% yesterday (18th). It is believed that transactions were extremely strong, driven by suppressed demand after the “Budget” was announced. Currently, trading has returned to a moderate slowdown in normalization. The bank predicts that property prices may stabilize in the short term, but as new supply inventory levels are still high, property prices may weaken again in the future.