Without hesitation, all-out counterattack!
The mood of doing more money broke out completely. In early trading today, A-shares counterattacked across the board. As of midday, the GEM index soared by 9.33%, the largest increase in the market in history. The Shanghai Composite Index rose 2.14% and the Shenzhen Component Index rose 6.37%. New energy, big finance and big consumption broke out collectively, and the wealth of the East soared by over 13%, while that of Contemporary Amperex Technology Co., Limited rose by nearly 10%.
At around 10: 00 a.m., many stock indexes on the Shanghai Stock Exchange showed a straight and sideways market. At present, the Shanghai Composite Index has resumed volatility, and the increase has rapidly expanded to 2%. In the meantime, the Shanghai Stock Exchange issued a notice saying that. "We are concerned that after the opening of the market today, there is an abnormality in the auction trading of our stock that the transaction confirmation is slow. The firm has paid attention to the relevant situation at the first time and is investigating the relevant reasons. "
In addition, the real estate sector rose across the board. On September 27th, the property stocks in Hong Kong stocks collectively strengthened, with Kaisa Group soaring by over 69% in intraday trading and Xuhui Holding Group rising by over 10%. The A-share real estate sector also continued to strengthen, with the daily limit rising wildly. Vanke A, gemdale, Greenland Holdings, Chengtou Holdings, Sunshine Holdings, Financial Street and OCT A had strong daily limit.
Analysts believe that the the Political Bureau of the Communist Party of China (CPC) Central Committee Conference’s signal of "stopping falling and stabilizing" means that the central and local real estate easing policies will be overweight in the fourth quarter. It is expected that the purchase restriction policy in Beishang Shenzhen will be further optimized and adjusted in the future, and the purchase restriction policies in other regions such as Guangzhou are expected to be fully liberalized.
Stimulated by favorable policies, some positive changes have begun to appear in the property market. Some insiders said that the number of consultations on property market projects has increased. While consulting the latest credit policy, some property buyers are also asking whether the price is favorable.
Soaring across the board
On September 27th, after the opening of the Hong Kong stock market, domestic property stocks collectively strengthened, with Kaisa Group soaring by over 69%, Xuhui Holding Group by over 10%, Sunac China and Ocean Shipping Group by over 9%.
The A-share real estate sector also continued to strengthen. Following yesterday’s wave of daily limit, it launched a counterattack again today. By midday, the real estate index rose by 6.24%, and Vanke A, gemdale, Greenland Holdings, Chengtou Holdings, Sunshine Shares, Financial Street and OCT A had strong daily limit.
By midday, the Shanghai Composite Index was up 2.14%, the Shenzhen Component Index was up 6.37%, and the Growth Enterprise Market Index was up 9.33%, the largest intraday gain in history. More than 5,200 stocks rose in the whole market, with a half-day turnover of 946.6 billion in Shanghai and Shenzhen stock markets. As of the midday closing of Hong Kong stocks, the Hang Seng Index rose by 3.41% and the Hang Seng Technology Index rose by 6.56%.
In the news, the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on September 26th to analyze and study the current economic situation and plan the next economic work. The meeting stressed that in order to promote the real estate market to stop falling and stabilize, it is necessary to strictly control the increment of commercial housing construction, optimize the stock, improve the quality, increase the loan of "white list" projects, and support the revitalization of idle land. It is necessary to respond to the concerns of the masses, adjust the housing purchase restriction policy, reduce the interest rate of existing mortgage loans, and promptly improve policies such as land, taxation and finance to promote the construction of a new model of real estate development.
Looking back on previous Politburo meeting of the Chinese Communist Party, it is the first time that the term "promoting the real estate market to stop falling and stabilize" appeared. Yan Yuejin, vice president of Shanghai Yiju Real Estate Research Institute, said that this is the first very clear instruction made by the Political Bureau of the Central Committee on the real estate market, that is, "stop falling and stabilize". The "stop falling" here includes both the stop falling volume and the stop falling transaction price.
Recently, the central bank also intensively released a number of policies to boost the property market. In terms of mortgage, it will reduce the interest rate of existing mortgage and unify the minimum down payment ratio of mortgage. Specifically: guide commercial banks to reduce the interest rate of existing mortgage loans to the vicinity of the interest rate of new mortgage loans, and the average decline is expected to be about 0.5 percentage points. Reduce the minimum down payment ratio of the second home loan at the national level from 25% to 15%, and unify the minimum down payment ratio of the first suite and the second suite.
Guo Lei, chief economist of GF Securities, said that the tone of the meeting on the real estate market was very clear. The meeting pointed out that promoting the market to "stop falling and stabilize", including "responding to the concerns of the masses and adjusting the housing purchase restriction policy", meant that the probability of relaxing the real estate purchase restriction policy in first-tier cities was greatly increased. Adjusting the housing purchase restriction policy is one of the most flexible areas of real estate policy at present.
Guojin Securities said that the real estate industry may usher in a new round of policy enthusiasm. At present, the fundamentals of the real estate sector are still bottoming out, and the policy expectations are strong. At the same time, low valuations and low positions are superimposed, so it is more flexible in the short term.
Open source securities pointed out that this portfolio policy for real estate has released a positive signal and provided full support for buyers and enterprises. The down payment ratio of mortgage has dropped to a historical low. The reduction of the interest rate of existing mortgage can reduce the debt pressure of residents, stimulate consumption and investment, reduce the pressure of repaying loans in advance, stabilize the expectation of housing consumption and boost the confidence of buying houses. The reduction of policy interest rate also indicates that the interest rate center of subsequent mortgage will move down further.
Positive change
The signal of "stopping falling and stabilizing" also means that the real estate easing policies of the central and local governments will be overweight in the fourth quarter.
At present, the cities that still have the purchase restriction policy only include Beijing, Shanghai, Guangzhou, Shenzhen and parts of Tianjin and Hainan. Chen Wenjing, director of policy research of China Central Finger Research Institute, said that it is expected that the purchase restriction policy in Beishang Shenzhen will be further optimized and adjusted in the future, and the purchase restriction policies in other regions such as Guangzhou are expected to be fully liberalized. Optimizing the purchase restriction policy in Beishang Shenzhen will also help to exert the driving effect of big cities and boost market confidence.
Stimulated by favorable policies, there have also been some positive changes in the property market.
According to 21st century business herald, the relevant person in charge of a listed real estate enterprise said that the company had preliminary communication with cooperative financial institutions on the issue of landing rules. But he did not disclose the content of the communication. The source said that the company has already made a judgment on this round of policy adjustment, and in addition, it is currently in the traditional marketing peak season of "Golden September and Silver 10", and the company has made arrangements in marketing.
The relevant person in charge of a real estate company in Chengdu also said that the company has communicated with government departments and financial institutions, and is currently waiting for the relevant rules to land. "I hope to quickly grab a wave." He also pointed out that the consulting volume of the company’s projects has increased in the past two days. While consulting the latest credit policy, some property buyers are also asking whether the price is favorable.
After the regulatory authorities set the tone, the policy landing in various places has also received much attention. Previously, some cities have released positive signals.
Analysts pointed out that many cities will introduce landing policies one after another in the future. In addition to credit measures such as lowering the interest rate of existing mortgage loans and lowering the down payment ratio of second homes, whether the relevant restrictive policies in core cities can be further loosened is also the focus of attention.
The relevant policies and measures for the financing end of housing enterprises have also attracted much attention.
The regulatory authorities said that the study allowed policy banks and commercial banks to lend money to support qualified enterprises to acquire the land of housing enterprises in a market-oriented manner, revitalize the existing land and ease the financial pressure on housing enterprises.