Express News | The one-month Hong Kong dollar interest settlement rate announced by the Hong Kong Association of Banks on June 27 is 4.65821%, compared to 4.7% on the previous trading day.
Banks have swiftly implemented it! The first-home mortgage rate in Peking has been reduced to 3.5%, and the second-home loan has entered the "3s".
The introduction of this policy in Peking means that the new policies for the real estate market in first-tier cities have been fully implemented under the "517 New Policy." The implementation of the policy can to some extent promote the repair of the demand for residential department mortgage loans, and the overall market confidence is expected to stabilize.
Market Overview | The three major Hong Kong stock indexes all fell by nearly 2%, with Xiaomi leading the network technology stocks by falling more than 6%, while Bosideng rose by more than 6% after its performance announcement.
Hang Seng Index fell by 1.85%, Hang Seng Tech Index rose by 1.92%, and Hang Seng China Enterprises Index fell by 1.96%. Auto stocks generally fell, Guangzhou Automobile Group down over 4%, Evergr Vehicle down more than 3%; NIO Inc rose by nearly 4%.
Zhongzhi Research Institute: It is expected that the real estate market will still face adjustment pressure in the second half of the year, and the new housing market may still be in the bottoming stage.
The China Index Academy stated in a document that due to the lack of improvement in residents' income expectations and expectations for a decline in house prices, it is expected that the national real estate market will still face adjustment pressure in the second half of 2024, and the new housing market may still be at the bottom.
Listed insurance companies are accelerating the follow-up of interim dividends. China Pacific Insurance, China Life Insurance announced on the same day, the five major A-share insurance companies have only China Taiping Insurance not yet stated.
① China People's Insurance and China Life Insurance announced on the same day that they plan to implement an interim dividend in 2024; the China Life Insurance disclosure related bill has been reviewed and approved by the company's board of directors. ② Up to now, Xinhua Insurance, China Insurance, China Life Insurance, and China Ping An have all planned to implement “multiple dividends in a year”. Only the five major A-share insurers have yet to make a statement.
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