KE Holdings Inc., the Chinese real estate platform, saw its stock surge 5.92% on Tuesday's intraday trading session. This significant upward movement comes as China's property sector exhibits early signs of stabilization, according to analysts.
Citi analysts have turned less bearish on the sector from February, citing expectations for policies to be announced during the March NPC meeting and stabilizing sales figures from the fourth quarter of 2024 and the first two months of 2025. Recent measures reportedly being considered to support China Vanke, a major property developer, are also viewed as positive signals indicating likely explicit government support for the industry.
While policies are moving in the right direction, analysts caution that it may take time for these efforts to translate into tangible results. Among Chinese property developers, Citi prefers KE Holdings, C&D International Investment Group, Greentown China, and China Resources Land.
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