Chinese property giant China Vanke saw its stock plummet by 17.42% on October 17, 2024, as a lack of new policies to boost home demand from the housing ministry triggered a broad sell-off in the country's real estate sector.
The sharp decline in China Vanke's share price came after a highly anticipated briefing by China's housing ministry failed to unveil any significant incremental measures to stimulate the faltering property market. The ministry announced some tweaks to existing policies, such as loosening buying regulations, enhancing funding for distressed developers, and cutting mortgage rates, but these were seen as underwhelming by investors.
The disappointment over the lack of substantial new stimulus measures sparked a wave of selling in property developer stocks. Besides China Vanke, other major casualties included Ronshine China (down 32%), SUNAC (down 25%), and R&F Properties (down 21%). The Hang Seng Index fell 1.02%, while the Hang Seng China Enterprises index lost 1.22%.
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。