Today, the three major stock indexes in Hong Kong rebounded in early trading, but real estate stocks, which led the gains yesterday, experienced an adjustment. As of the time of publication, $SUNAC (01918.HK)$N/A.$SHIMAO GROUP (00813.HK)$,$R&F PROPERTIES (02777.HK)$,$CIFI HOLD GP (00884.HK)$They fell by 19.48%, 13.57%, and 12.22% respectively.

From the chart above, Sunac's decline is in the lead. The company announced a placement of shares at a price of HK$2.465 per share, with a discount of approximately 20% compared to the previous day's closing price, raising a total of approximately HK$1.205 billion from the subscription.

Due to the adjustment of Sunac, other real estate stocks have also experienced varying degrees of retreat.

CCB International recently pointed out that the revaluation of the real estate industry's valuation may occur before the improvement in fundamentals, and this process may last for a considerable period. They also noted the need to closely monitor potential profit-taking phenomena and the risks posed by equity financing activities.

However, at the ongoing State Council Information Office press conference, Assistant Minister of Finance Song Qichao stated on October 17 at the press conference that special bonds used for land acquisition and storage will mainly support localities in specific operations. In combination with actual circumstances, they will reasonably determine the acquisition price with the owner enterprises of existing land, properly handle the debt relationship involving the recovery of existing land, determine the scope of special bond projects reasonably, and promptly arrange the issuance and expenditure of special bonds.

He also mentioned that with regard to the special bonds used to purchase existing commercial housing for affordable housing, this policy is decided independently by local governments, voluntarily implemented, follows the principle of rule of law, and operates in a market-oriented manner. Based on ensuring the balance of project financing returns, local governments will arrange the purchase of existing commercial housing with special bonds.

Institutions stated that mainland residents' views on the outlook for housing prices improved slightly in September.

A research report released by Morgan Stanley pointed out that the survey results for September showed a slight improvement in mainland residents' views on the outlook for housing prices. This improvement is attributed to recent changes in political tones, but the sustainability of sales recovery still needs to be closely observed.

In the survey conducted by the bank, a total of 2031 residents from first to fourth-tier cities participated. Among them, 68% of respondents with home purchase plans believe that recent policy relaxations have had a positive impact on their plans. 38% of respondents expect property prices to fall in the next 12 months, indicating an improved perception of potential buyers towards property prices.

Editor/Rocky