On September 15, CHINA RES LAND fell 3.14% in regular trading, trading at HK$28.38/share, with turnover of HK$381 million. The decline came amid broad weakness across Hong Kong-listed property stocks following the release of national real estate data for the January-August period.

The National Bureau of Statistics reported that nationwide real estate development investment totaled RMB 47,979 billion in the first eight months, down 19.9% year-on-year, with the decline widening from 18.0% in the first half. Residential investment fell 19.7%. New housing starts dropped sharply by 24.8%, with residential starts down 25.4%. The only positive signal came from secondhand housing, with transaction area up 10.6% year-on-year, indicating demand is shifting toward the existing-home market.

Sector-wide, property stocks declined broadly. CHINA RES LAND had previously reported first-half revenue of RMB 67.87 billion, down 28.5% year-on-year, with net profit falling roughly 17%. Citi expects sector volatility to persist through September to December as the market digests the long-term implications of the current-home sales reform policy introduced on August 28.

(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.)