HK Stock Market Move | The property stocks rose broadly in the morning session. Over the first weekend after the implementation of the "eight measures" in Shanghai, the phenomenon of "daylight disk" reappeared. Institutions expect core city housing prices to gradually find a bottom.

Real estate stocks saw a broad increase in early trading. As of the time of writing, CH OVS G OCEANS (00081) rose by 9.77%, priced at HK$2.81; SUNAC (01918) increased by 8.26%, priced at HK$0.59; COUNTRY GARDEN (02007) went up by 5.95%, priced at HK$0.196; and CHINA VANKE (02202) climbed 3.18%, priced at HK$2.435. On the news front, on August 20, Shanghai's Housing and Urban-Rural Development Management Committee, along with five other departments, jointly issued the Notice on Optimizing Real Estate Policy Measures in the City (hereinafter referred to as the Eight Policies for Shanghai). In the first weekend after the implementation of the Eight Policies, the new home market in Shanghai experienced another surge in demand, with 64 units from the second batch of the Bao YeHongqiao National Exhibition in the Qingpu Xujing area being quickly sold out. This marks the third property in Shanghai to achieve a sell-out since opening in the past ten days. Shenwan Hongyuan Group released a research report stating that the Eight Policies for Shanghai are being introduced to further solidify the bottom line for property prices in Shanghai, building on the improvement in the local housing market; the timing of the relaxation in the Shanghai and Beijing markets exceeded expectations, and there is still room for recovering expectations regarding housing policies and optimizing judgments; the reduction in supply is the core driver for the current bottom-seeking phase of the housing market, with a judgment that property prices in core cities like Shanghai will gradually stabilize.