0521 GMT - China's property market is quietly staging a recovery that has yet to be fully appreciated by the stock market, HSBC Global Research analysts write in a note. While the aftermath of the confidence crisis caused by property developer defaults since 2021 and the trade tensions between U.S. and China remain a distraction, China's property sector's fundamental dynamics are shifting in ways that remain overlooked, they say. Demand for high-quality homes is recovering thanks to the country's huge middle-class population. Housing demand may remain solid, supported by demand from people looking to upgrade their homes and by sustained urbanization, they add. China's property sector remains the bedrock of household wealth, representing 65.9% of urban household wealth, they say. HSBC's top picks are CRL, C&D, China Jinmao and Beike. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
April 28, 2025 01:22 ET (05:22 GMT)
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