Economic data is not as good as expected to superimposed the property market, dragging down the Lukang stock market in September, the first trading day in September fell, and Chinese real estate stocks and consumption sectors led the decline.
The main stock index of Hong Kong stock index fell by more than 1%on Monday (September 2). As of 12 noon, the Hang Seng Index had fallen by 1.77%.A shares failed to continue the rise last Friday (August 30), and the Shanghai Composite Index fell 0.62 % in the morning.
According to Bloomberg, Lugang Real Estate stocks have lowered significantly, and the Bloomberg Industry Research (BI) Chinese Real Estate Index has fallen by nearly 1.9%.Hong Kong developers' new world development stock price fell more than 14 %, the largest decline in the market since November last year; the leading Chinese real estate leader Vanke fell after the loss of the first half of the year of the first half of the year.
New World Development issued an early warning on Friday. It is expected that as of the fiscal year at the end of June this year, up to 20 billion (Hong Kong dollars, the same below, S $ 3.35 billion) will lose money.This is the first time that the group has suffered a loss in the past 20 years.
Group announcement pointed out that asset impairment, investment losses, and continued high interest rates during the year are the cause of decline in performance.The preliminary results of the Group's investment and development of property assessments show that a one -time non -cash register or erosion loss must be carried out in fiscal 2024, with a total of 8.5 billion to HK $ 9.5 billion.At the same time, core operating profits are expected to decrease by up to 23%.
Under the expected economic expectations of the downturn, the main consumption index also led the ten major industries of the Shanghai and Shenzhen 300 Index on Monday, and the liquor sector fell.
According to the news that China will reduce the interest rate of the stock mortgage, it will boost market sentiment last Friday, but it will be offset by the weak realistic data.China's official manufacturing procurement manager index (PMI) has shrunk for four consecutive months, and institutional data also shows that the decline in housing sales in August has intensified, indicating that the economic resistance resistance is getting bigger and bigger.
Huaxi Securities pointed out in the report that the PMI data in August refers to the weakening of the economic prosperity, and the incremental policy is expected to increase the force;
