0848 GMT - There is no impetus for the Chinese government to aggressively boost its property sector given recent signs that it is bottoming out, OCBC analysts write in a note. China's residential property prices continued their downtrend for 70 large and medium-sized Chinese cities in January, but the magnitude of decline narrowed on a year-on-year basis, they add. There were also some signs of stabilization in the contracted sales of the top 100 developers. Investors should stay highly selective within the property sector since there were no major surprises in the NPC work report. OCBC picks Ke Holdings, China Resources Land, China Overseas Land & Investment and Longfor Group as its preferred stocks. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
March 11, 2025 04:49 ET (08:49 GMT)
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