China Vanke hits limit up, breaks, then re-seals; State Council deploys policies to stabilise the property market

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2▲5 ▼0Impact / 5
Summary · why it matters

On 29 September, the real estate sector was active again. China Vanke A surged to its daily limit in early trading, quickly broke the limit, then re-sealed it in the afternoon. Shenzhen Properties A posted a second consecutive limit-up, while Binjiang Group, Cinda Real Estate and Hualian Holdings also hit their daily limits. On the same day, the three major indices fluctuated higher in late trading before falling back again. The Shanghai Composite Index rose 0.18%, the Shenzhen Component Index rose 0.34%, and the ChiNext Index rose 0.09%. Combined turnover on the Shanghai and Shenzhen bourses reached 1.41 trillion yuan, hitting a new low for the year and shrinking by 293.6 billion yuan from the previous trading day. More than 3,400 stocks across the market advanced. On the news front, the State Council executive meeting was held on 28 September. The meeting pointed out the need to strengthen counter-cyclical macro policy adjustment, accelerate the issuance and use of various bonds, promote the early start of major engineering projects, and study the introduction of policy measures to stabilise the real estate market and boost employment and incomes. On the same day, four departments including the Shanghai Municipal Commission of Housing and Urban-Rural Development and Management jointly issued implementation opinions, proposing policy measures in six areas: strengthening pre-sale management, implementing sales of completed homes, promoting a lead bank system, increasing financing support, and optimising land supply management.

Impact on assets 5

Others▲ · 5 stocks
China Vanke Co Ltd Class A
000002
▲ PositiveRegulationrelevance

China Vanke A hit limit up after the State Council pledged measures to stabilise the real estate market and Shanghai issued six property-support policies.

Cinda Real Estate Co Ltd
600657
▲ PositiveRegulationrelevance

Cinda Real Estate hit its daily limit as the State Council and Shanghai policies to stabilise the property market lifted the sector.

China Union Holdings Ltd
000036
▲ PositiveRegulationrelevance

Hualian Holdings hit its daily limit as the real estate sector rallied on the State Council's property-market stabilisation measures.