The Politburo of the Chinese Communist Party held a meeting a few days ago, in which it once again emphasized the responsibilities of local governments, real estate enterprises and financial institutions, and the requirements of coordinating the study of policies and measures for absorbing the housing inventory and optimizing the incremental housing sales, which are positive signals for China's real estate market, similar to the market's previous consensus, Nomura released a research report saying.
Nomura believed that the authorities' stance became more supportive to the development of China's real estate industry.
China's property sales remained weak in April, Nomura said. Therefore, Nomura maintained a balanced sector view at the current stage.
Nomura reiterated its top pick as KE Holdings Inc (BEKE.US) , and suggested investors to choose high-quality developers such as CHINA RES LAND (01109.HK) +0.550 (+1.849%) Short selling $64.46M; Ratio 26.149% and LONGFOR GROUP (00960.HK) +0.180 (+1.417%) Short selling $13.76M; Ratio 15.011% , both of which are rated Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-03 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
