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<Research>Daiwa Names CHINA RES LAND as Top Pick, Envisioning Support Policies to Address Deteriorated CN Property Sales
Recommend 5 Positive 7 Negative 9 |
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According to data from the National Bureau of Statistics, China logged a 27.6% YoY decline in new home sales in November, a worsened performance compared to October, with accelerated price declines in first-tier cities, Daiwa wrote in its research report. This decline also marked the most severe drop in the residential real estate market in decades. As industry risks increase, Daiwa believes it will be more likely that the Chinese government will introduce stimulus measures in the short term, even if the scale of additional measures may disappoint the market. Overall, Daiwa considers the upside potential of the sector's stock prices to be greater than the downside risk. It keeps CHINA RES LAND (01109.HK) as its top pick, with a Buy rating. AAStocks Financial News |
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