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<Research>Daiwa Turns Cautiously Optimistic on CN Developers' ST Performance for Robust Mkt Sentiment
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Daiwa has released a report stating that with Shanghai, Shenzhen, and Guangzhou greatly relaxing their home purchase restrictions for non-local residents, the broker expected the effectiveness of this round of easing policies to be better than previous ones, as the pessimism among buyers had already been alleviated by recent stimulus measures when the easing policies were launched. In light of strong market sentiment, the broker turned cautiously optimistic about the short-term performance of the Chinese property sector. CHINA RES LAND (01109.HK) and CHINA OVERSEAS (00688.HK) remained the broker's top picks in the industry. In addition, as China's Politburo Standing Committee is calling for measures to stabilize the property market, it may lead to campaign-style rescue actions with policymakers introducing bolder measures more often to continuously boost market sentiment. Therefore, the broker maintained a cautiously optimistic outlook for the industry in the short term. AAStocks Financial News |
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