Significant positives! The property market lowered interest rates and down payments, and real estate-related sectors broke out across the board in the afternoon

Southern Metropolis Daily

2024-05-17 15:59Published on the official account of Guangdong Southern Metropolis Daily

Significant positives! The property market lowered interest rates and down payments, and real estate-related sectors broke out across the board in the afternoon

On May 17, the three major A-share indexes rose collectively, and real estate-related sectors broke out across the board. As of the close, the Shanghai Composite Index rose 1.01%, the Shenzhen Component Index rose 1.1%, the ChiNext Index rose 1.12%, the Beijing Stock Exchange 50 Index rose 0.48%, and the turnover of the Shanghai, Shenzhen and Beijing markets was 890.2 billion yuan, of which 887.4 billion yuan was in Shanghai and Shenzhen, an increase of 39.6 billion yuan from the previous day. More than 4,000 stocks rose in the two cities.

In terms of plate themes, real estate, low-altitude economy, optics and electronics, carbon fiber, PET copper foil, and advanced packaging concepts are among the top gainers; Small household appliances, game media, chemical and pharmaceutical, and port shipping sectors were among the top decliners.

On the disk, affected by the central bank's release of the property market policy news, real estate-related sectors broke out across the board in the afternoon, with more than 10 stocks such as Vanke A (000002), Poly Development (600048), China Fortune (600340), and Nanguo Real Estate (002305). On the news side, the central bank and the State Administration of Financial Supervision and Administration issued the "Notice on Adjusting the Policy on the Minimum Down Payment Ratio of Personal Housing Loans", which adjusts the minimum down payment ratio of commercial personal housing loans for the first house to not less than 15% for resident families who take out loans to purchase commercial housing, and the minimum down payment ratio for commercial personal housing loans for second houses is adjusted to not less than 25%. In addition, the central bank decided to reduce the interest rate of personal housing provident fund loans by 0.25 percentage points from May 18, and the interest rates of the first set of personal housing provident fund loans for less than 5 years (including 5 years) and more than 5 years were adjusted to 2.35% and 2.85% respectively, and the interest rates of the second set of personal housing provident fund loans for less than 5 years (including 5 years) and more than 5 years were adjusted to not less than 2.775% and 3.325% respectively. (For details, see the report "The Central Bank Issued Three Documents in a Row to Adjust Policies for Down Payments and Loan Interest Rates for Buying Houses")

The concept of low-altitude economy broke out today, with more than 10 shares such as Traffic Control Technology, Shenglan (300843), Xinchen Technology (300542), Beiwei Technology (002148), and Zongshen Power (001696).

The game and media sectors fluctuated and fell today, with new media shares (300770) falling by more than 5%, Ciwen Media (002343), Zhongguang Tianxue (603721), Happy Blue Ocean (300528), Palm Reading Technology (603533), and Zitian Technology (300280) all fell.

Message plane

The four major telecom operators jointly launched the commercial promotion of 5G cross-network roaming

On May 17, at the 2024 World Telecommunication and Information Society Day Conference held in Ningbo, Zhejiang, China Telecom (601728), China Mobile (600941), China Unicom, and China Radio and Television jointly announced the launch of the "5G cross-network roaming" commercial promotion. 5G cross-network roaming means that when the operator does not have 5G network coverage, users can access the 5G network of other operators and continue to use 5G services. It is of great significance to reduce signal blind spots, improve user experience, and accelerate 5G network coverage, especially in remote and rural areas.

Central Bank Charge Media: Market participants say 2.5% to 3% may be a reasonable range for long-term Treasury yields

A front-page headline article in the China Financial Times, which is headed by the People's Bank of China, said, "Overall, long-term government bond yields are determined by economic growth and inflation expectations, and are also affected by some short-term factors." Industry insiders said that in practice, the trend of long-term treasury bond yields in various countries is basically in line with this law. At present, the decline in the interest rate of mainland government bonds is mainly affected by factors such as market supply and demand, investor behavior, etc. In order to increase returns, some market institutions have concentrated on buying long-term assets, and the demand for long-term bonds has increased significantly, while the supply is relatively small in the short term. "In the future, after the People's Bank of China will incorporate the trading of treasury bonds into the regular operation tools of the open market, it can regulate market supply and demand through the purchase and sale of treasury bonds, which will also promote the smooth operation of yields." Some market analysts said that judging from the normal operation of the market in recent years, 2.5% to 3% may be a reasonable range for long-term treasury bond yields.

In addition, according to market news, the bidding for the 2024 ultra-long-term special treasury bonds (phase I) has ended, and the bidding results have been released. The marginal interest rate of "24 Special Treasury Bonds 01" is 2.57%, the margin is 382.6 times, and the market is 3.9 times. According to the issuance arrangement, the first 30-year ultra-long-term special treasury bonds are fixed-rate interest-bearing bonds, with a total amount of 40 billion yuan.

In April, the decline in residential prices in all tiers of cities expanded month-on-month and year-on-year

According to data from the National Bureau of Statistics, in April, the sales price of newly built commercial residential buildings in first-tier cities fell by 0.6% month-on-month, an increase of 0.5 percentage points from the previous month. Among them, Beijing, Guangzhou and Shenzhen fell by 0.7%, 1.3% and 1.0% respectively, and Shanghai rose by 0.3%. The sales prices of newly built commercial residential buildings in second- and third-tier cities decreased by 0.5% and 0.6% month-on-month respectively, with the decline rate both increasing by 0.2 percentage points from the previous month. In April, the sales prices of second-hand residential buildings in first-tier cities fell by 1.1% month-on-month, an increase of 0.4 percentage points from the previous month, of which Beijing, Shanghai, Guangzhou and Shenzhen fell by 1.6%, 0.8%, 1.4% and 0.7% respectively. Second-hand residential sales prices in second- and third-tier cities both fell by 0.9% month-on-month, and the decline rate increased by 0.4 percentage points from the previous month.

National Bureau of Statistics: Large-scale equipment renewal in the industrial field and the trade-in policy of consumer goods will release greater market space

According to Liu Aihua, spokesman of the National Bureau of Statistics, in the next stage, large-scale equipment renewal in the industrial field and the trade-in policy of consumer goods will release a larger market space, and information technology, digital technology, intelligent technology, and green technology will flourish, which will further help new kinetic energy accelerate the cultivation of growth and enhance the momentum of industrial development. At the same time, the confidence of business entities has also continued to increase in the past two months, the manufacturing purchasing managers' index has been in the expansion range for two consecutive months, and the year-on-year growth rate of profits of industrial enterprises above designated size has increased for three consecutive quarters. These factors will form a strong support for the continued recovery of the industrial economy.

In April, the combined month-on-month prices of water, gas, train tickets and electricity affected the CPI to rise slightly

Liu Aihua, spokesperson of the National Bureau of Statistics, responded to the "increase in public utility prices" at a press conference of the State Council Information Office. According to estimates, in April's CPI, water, gas, and train ticket prices rose by 0.1%, 0.1% and 0.2% month-on-month respectively, and electricity prices were flat month-on-month, with the total impact of the four items on CPI rising by less than 0.01 percentage points. On a year-on-year basis, water prices rose by 0.9%, gas prices rose by 2.4%, train ticket prices rose by 0.5%, and electricity prices remained flat year-on-year. The total of the four items affected the CPI to rise by about 0.02 percentage points. From the perspective of prices in April, the total month-on-month impact of water, gas, train tickets and electricity prices on the CPI rose by less than 0.01 percentage points, and about 0.02 percentage points year-on-year.

Source: Straight Flush, Xinhua News Agency, China.com

Written by: Nandu reporter Shi Li

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