By outdoor-nature-child.com On October 16th, the Chinese A-shares displayed a largely oscillating pattern, with major indices showing mixed results. However, there were notable highlights, particularly in the real estate sector, which performed strongly on this day.
According to data from Orient Securities, the real estate development and real estate services sectors saw increases of 4.83% and 4.77%, respectively. Several individual stocks also experienced significant gains, with Financial Street, Nanguo Real Estate, and Jindi Group all hitting their daily limit up of 10%.
In an interview, Liu Yunlong, an analyst at Guorong Securities, attributed the strong performance of the real estate-related sectors to news-driven factors. He mentioned that expectations are rising for continued favorable policies from the Chinese government, which has increased investor enthusiasm for the real estate market.
The State Council Information Office announced that there would be a press conference on October 17th, featuring Minister Ni Hong from the Ministry of Housing and Urban-Rural Development, along with officials from the Ministry of Finance, Ministry of Natural Resources, People’s Bank of China, and the National Financial Regulatory Administration. They will discuss measures to promote the stable and healthy development of the real estate market and address questions from reporters.
Additionally, there are signs of a warming trend in the real estate markets across several regions in China. According to statistics from the CRIC Research Center, the area subscribed to new housing projects in 23 key cities during the “Eleventh” period rose by 77% month-on-month and by 65% year-on-year. Notably, the four first-tier cities—Beijing, Shanghai, Guangzhou, and Shenzhen—saw a year-on-year increase of 102%.
As for the performance of the main A-share indices on that day, the Shanghai Composite Index closed at 3,202 points, up 0.05%; the Shenzhen Component Index finished at 9,965 points, down 1.01%; and the ChiNext Index ended at 2,039 points, down 2.21%.