GEELY AUTO's stock price surged 9.06% on Thursday as the Hong Kong stock market rallied on signs of a recovery in China's property market, a key driver of economic growth.
The Hang Seng Index rose 1% by midday, trimming its weekly loss to 0.4%. GEELY AUTO was among the biggest gainers, climbing 8.8%, as data showed residential presales in 30 major Chinese cities jumped 22% last week compared to the previous seven-day period.
The rebound in home sales is attributed to a series of supportive measures unveiled by Beijing since late September to boost the struggling property sector. Raymond Cheng, managing director at CGS International Securities, said the strong policy tailwinds have markedly improved homebuyer confidence in China, driving expectations for a positive year-over-year growth in industry sales in the fourth quarter of 2024 and potentially in 2025 as well.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。