Stock Track | Longfor Group Shares Plunge on Profit-Taking After Recent Rally

Stock Track

2024-10-17

Shares of Longfor Group, a prominent Chinese property developer, plummeted 6.51% on October 17, 2024, reversing some of the gains from the previous trading sessions.

The stock's decline came amid a broader sell-off in Chinese real estate stocks, even as the broader Hong Kong market rebounded on expectations of potential support measures for the troubled sector. According to market reports, investors opted to take profits after a recent rally in Chinese property stocks, including Longfor Group.

While the Hong Kong stock market rose 1.9% on October 17, with the Hang Seng Tech Index gaining 2.5%, Chinese property developers that had surged the previous day saw significant declines. Longfor Group, along with other major names like SUNAC, China Vanke, R&F Properties, and Logan Group, all experienced notable losses in morning trading.

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。

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