On June 23, China Overseas Land & Investment (00688.HK) fell 3.05% in regular trading, trading at HK$12.73/share, with turnover of HK$244 million. The decline extends the selloff that intensified last week when the stock plunged nearly 9% in a single session.

The persistent weakness is driven by the National Bureau of Statistics May real estate data, which confirmed the industry remains in a bottoming process. On the sales side, January-May new commercial housing sales area fell 10.8% year-over-year, while sales revenue declined 13.5%. On the investment side, national real estate development investment dropped 16.2% YoY. Housing prices in 70 major cities declined 0.2% month-over-month in May, with downward pressure intensifying versus April.

Within the Real Estate Development sector, the overall sector remains under pressure. Among individual stocks, China Resources Land down 3.4%, Longfor Group down 3.79%, C&D International down 3.32%, Henderson Land down 2.34%, and China Jinmao down 3.7%. Analysts note the sector has entered a consolidation phase with limited probability of large-scale policy stimulus in the near term.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)