October 9th, according to Morgan Stanley's report, mainland major developers' property sales during the Golden Week are better than expected, with an average annual increase of 39%, accounting for 86% of September sales. Among them, China Resources Land, Greentown China, China Overseas, Country Garden International, and Yuexiu Property performed the best due to their high-quality land reserves and more new saleable resources in first-tier and second-tier cities. The bank expects that with the improvement in market sentiment, the strong sales momentum will continue in the coming weeks, but the sustainability of sales remains a key factor supporting the industry's performance. Channel surveys have shown some positive signals of residential market recovery, including strong visitation to sales centers and real estate agent companies; increased listing prices by several high-tier city housing developers; and some developers reducing the discounts offered. The bank recommends investors to accumulate shares of beneficiaries in both housing and consumer sectors during any potential industry downturn, such as Greentown China and China Resources MixC, while also recommending China Overseas, Greentown, and Yuexiu due to strong sales potential in the fourth quarter, which may outperform the broader market.