Hong Kong-listed mainland property stocks extended losses in afternoon trading. As of press time, SEAZEN (01030) fell 3.86% to HK$2.24, RONSHINECHINA (03301) dropped 3.64% to HK$0.159, GREENTOWN CHINA (03900) declined 3.57% to HK$8.91, and SUNAC (01918) slid 2.22% to HK$1.32.

The National Bureau of Statistics released October 2025 data on residential property price movements across 70 major Chinese cities. New home prices in these cities fell 0.5% month-on-month, marking the steepest decline since October last year, while existing home prices dropped 0.7%.

BOC Securities noted that the month-on-month price declines in the 70-city index have widened, with all cities reporting sustained drops in existing home prices for the first time. However, the pace of declines in first- and second-tier cities did not accelerate.

HSBC Holdings PLC stated in a research report that sentiment in the property market has cooled, entering a policy vacuum period. After a brief recovery, some negative trends have emerged, such as weakness in the high-end residential segment, suggesting that government efforts to improve housing quality and boost demand may be insufficient to stabilize the new home market. The bank believes that amid low policy expectations, any policy-related news could be perceived as positive.