Mainland Chinese property stocks showed volatile gains during the trading session. At the time of writing, China Overseas Grand Oceans Group (00081) rose 7.43% to HK$2.89. China Overseas Land & Investment (00688) increased 7.34% to HK$13.16. China Jinmao Holdings Group (00817) advanced 6.67% to HK$1.60. Greentown China Holdings (03900) climbed 4.95% to HK$9.54. China Vanke (02202) gained 3.87% to HK$2.95.

The movement follows a meeting of the Political Bureau of the Communist Party of China Central Committee on April 28, which analyzed the current economic situation and outlined economic tasks. The meeting emphasized the need to effectively prevent and resolve risks in key sectors. It also highlighted the importance of striving to stabilize the real estate market and steadily advance urban renewal projects.

Analysts at Galaxy Securities noted that the property market currently shows a diverging trend between different cities. New and second-hand residential sales prices in first-tier cities have demonstrated better month-on-month performance compared to other cities, underscoring the significance of stabilizing the overall market. As the industry gradually transitions into a phase of high-quality development, sector valuations may experience a broad-based recovery. Leading developers, benefiting from advantages such as lower financing costs and high market share in core regions, are well-positioned to capture beta opportunities through this valuation repair process.