On September 29, BEKE-W rose 3.01% in regular trading, reaching HK$45.32 per share, with turnover of approximately HK$225 million. The rally was driven by a confluence of supportive real estate policy developments over the weekend.

On September 28, the State Council executive meeting explicitly called for \"researching and introducing policies to stabilize the real estate market and promote employment and income growth,\" while urging stronger counter-cyclical macroeconomic adjustments. The same day, Shanghai became the second city after Beijing to release detailed implementation rules for the \"August 28 New Policy\" on cash home sales reform, covering enhanced presale fund supervision, phased-in cash sales requirements, a lead-bank system for project financing, and deferred land payment schedules of up to two years.

CLSA recently reiterated an \"Outperform\" rating on BEKE-W with a HK$62 target price, citing easing regulatory concerns and a strong secondary housing market as key catalysts. The company has also been conducting daily share buybacks of approximately US$3 million on the NYSE throughout September, cumulatively repurchasing over 37 million shares under its current authorization.

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