The Zhitong Finance App learned that Hong Kong real estate stocks were generally lower. Citigroup said that since real estate agents are anxious to push for a reasonable price, demand still depends on currently stuck interest rates, so it maintains the forecast of a 10% drop in Hong Kong property prices for the whole year. As of press release, Swire Properties (01972) fell 4.29% to HK$15.18; Hang Lung Properties (00101) fell 3.8% to HK$7.84; and Changshi Group (01113) fell 1.75% to HK$33.75.

Citi released a research report saying that it still downplays the Hong Kong real estate industry because of de-globalization; the performance of the four pillar industries slowed down before new drivers appeared; real interest rates were high due to economic weakness and deflation; after the Federal Reserve cut interest rates, Hong Kong's mortgage interest rate may not follow the initial reduction; the retail industry was affected by the downturn in tourist consumption, and average spending per tourist fell; office buildings faced upward pressure on supply, but demand declined after layoffs; the relaxation of housing measures triggered short-term sales impulses, and more new listings were promoted at reasonable prices.