


By Clare Jim
HONG KONG (Reuters) -Shares of Chinese property developers climbed on Friday, lifted by more state support for the highly indebted sector struggling with weak sales and investments as China reopens its economy.
The central bank said on Thursday that for cities where the selling prices of new homes fall month-on-month and year-on-year for three consecutive months, the floor on mortgage rates can be lowered or abolished for first-time home buyers in phases.
China is also planning to relax restrictions on borrowing for property developers by dialing back the "three red lines" policy, Bloomberg News reported on Friday.
The property sector, which accounts for a quarter of China's economy, was badly hit last year as many developers were unable to finish building projects that led to mortgage boycotts by some buyers. Lockdowns and movement control measures to control the spread of COVID-19 also hurt buyer sentiment.
Hong Kong's Hang Seng Mainland Properties Index firmed 2.3% in mid-afternoon trade, after jumping close to 4% shortly after the market open.
As of 0709 GMT, Logan Group gained more than 10%, while top leader Country Garden rose 6.6%. That compared with a flat broader market.
"Positive news of state help have mostly been priced-in in the short term after many share prices more than doubled in the past month," said CGS-CIMB analyst Will Chu. "For the sector to re-rate, the market will need to see a meaningful contract sales improvement in March."
China's deeply troubled property sector is set to see home sales fall for the second straight year in 2023, but the pace of declines will ease helped by policy support measures and the lifting of the government's strict anti-COVID policies.
Property sales are expected to slip by a median of 8% this year, a Reuters survey of eight economists and analysts showed, compared with a slump of around 25% in 2022, as economic activity, household income and consumer confidence are seen rebounding in the second half.
The housing authorities vowed on Thursday to give strong support to first-time home buyers by allowing smaller down payments and cutting mortgage interest rates.
Ni Hong, head of China's housing regulator, told state broadcaster CCTV that "reasonable" support needs to be given to buyers of second homes although not for the purchase of three homes or more.
THREE RED LINES
To help cash-strapped developers, Beijing may allow some property firms to add more leverage by easing borrowing caps, and push back the grace period for meeting debt targets set by the "three red lines" policy, Bloomberg reported on Friday.
Markets raised questions about the policy, introduced in late 2020, after developers who met all three debt ratio requirements also defaulted, including Kaisa Group and Yuzhou Group.
Sources have told Reuters banks have been disregarding the policy since the debt crisis and were reluctant to lend to even developers who have passed the three red lines due to concerns about the impact of such exposure on their balance sheets.
"A healthy balance sheet doesn't necessarily mean good liquidity in companies," said CGS-CIMB's Chu. "Regulators want to send a signal that the policy will not be so strict anymore because it's not good for the economy and market."
EUR/USD
1.0751
+0.0052 (+0.49%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (2)
EUR/USD
1.0751
+0.0052 (+0.49%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (2)
GBP/USD
1.2494
+0.0055 (+0.44%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
USD/JPY
139.38
-0.75 (-0.54%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (5)
Sell (2)
AUD/USD
0.6697
+0.0045 (+0.68%)
Summary
NeutralMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (0)
Sell (6)
USD/CAD
1.3350
-0.0020 (-0.15%)
Summary
SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (2)
Sell (5)
EUR/JPY
149.85
-0.08 (-0.05%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (7)
Sell (1)
EUR/CHF
0.9698
-0.0040 (-0.41%)
Summary
SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (2)
Sell (5)
Gold Futures
1,973.85
+15.45 (+0.79%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (5)
Sell (4)
Silver Futures
24.023
+0.494 (+2.10%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Copper Futures
3.7657
+0.0097 (+0.26%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Crude Oil WTI Futures
72.73
+0.20 (+0.28%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (0)
Sell (7)
Brent Oil Futures
77.12
+0.17 (+0.22%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (0)
Sell (8)
Natural Gas Futures
2.340
+0.011 (+0.47%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (1)
Sell (9)
US Coffee C Futures
189.55
+4.15 (+2.24%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
Euro Stoxx 50
4,297.75
+5.84 (+0.14%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
S&P 500
4,267.52
-16.33 (-0.38%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (2)
Sell (4)
DAX
15,970.83
+10.27 (+0.06%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
FTSE 100
7,611.23
-13.11 (-0.17%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
Hang Seng
19,299.18
+47.18 (+0.25%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (4)
Sell (1)
US Small Cap 2000
1,888.45
+33.05 (+1.78%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (1)
IBEX 35
9,383.96
+24.16 (+0.26%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
BASF SE NA O.N.
47.362
+0.912 (+1.96%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (1)
Sell (8)
Bayer AG NA
52.09
-0.04 (-0.08%)
Summary
BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (5)
Sell (1)
Allianz SE VNA O.N.
209.78
+0.93 (+0.45%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Adidas AG
159.18
-0.08 (-0.05%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Deutsche Lufthansa AG
9.105
-0.028 (-0.31%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (11)
Siemens AG Class N
158.09
-0.37 (-0.23%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (8)
Sell (0)
Deutsche Bank AG
9.905
+0.093 (+0.95%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (1)
Sell (7)
EUR/USD | 1.0751 | ↑ Buy | |||
GBP/USD | 1.2494 | ↑ Buy | |||
USD/JPY | 139.38 | Neutral | |||
AUD/USD | 0.6697 | Neutral | |||
USD/CAD | 1.3350 | Sell | |||
EUR/JPY | 149.85 | Buy | |||
EUR/CHF | 0.9698 | Sell |
Gold | 1,973.85 | ↑ Buy | |||
Silver | 24.023 | ↑ Buy | |||
Copper | 3.7657 | ↑ Buy | |||
Crude Oil WTI | 72.73 | ↑ Sell | |||
Brent Oil | 77.12 | ↑ Sell | |||
Natural Gas | 2.340 | ↑ Sell | |||
US Coffee C | 189.55 | ↑ Buy |
Euro Stoxx 50 | 4,297.75 | ↑ Sell | |||
S&P 500 | 4,267.52 | ↑ Sell | |||
DAX | 15,970.83 | ↑ Sell | |||
FTSE 100 | 7,611.23 | ↑ Sell | |||
Hang Seng | 19,299.18 | ↑ Buy | |||
Small Cap 2000 | 1,888.45 | ↑ Buy | |||
IBEX 35 | 9,383.96 | ↑ Sell |
BASF | 47.362 | ↑ Sell | |||
Bayer | 52.09 | Buy | |||
Allianz | 209.78 | ↑ Sell | |||
Adidas | 159.18 | ↑ Sell | |||
Lufthansa | 9.105 | ↑ Sell | |||
Siemens AG | 158.09 | ↑ Buy | |||
Deutsche Bank AG | 9.905 | ↑ Sell |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 6,640![]() ![]() (-5 ![]() ![]() |
SJC HCM | 6,640![]() ![]() (-5 ![]() ![]() |
SJC Hanoi | 6,640![]() ![]() (-5 ![]() ![]() |
SJC Danang | 6,640![]() ![]() (-5 ![]() ![]() |
SJC Nhatrang | 6,640![]() ![]() (-5 ![]() ![]() |
SJC Cantho | 6,640![]() ![]() (-5 ![]() ![]() |
Cập nhật 08-06-2023 20:14:14 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$1,958.56 | +14.1 | 0.73% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 22.790 | 23.240 |
RON 95-III | 22.010 | 22.450 |
E5 RON 92-II | 20.870 | 21.280 |
DO 0.05S | 17.940 | 18.290 |
DO 0,001S-V | 18.800 | 19.170 |
Dầu hỏa 2-K | 17.770 | 18.120 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $72.80 | +0.77 | 0.01% |
Brent | $77.06 | +0.62 | 0.01% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 23.290,00 | 23.660,00 |
EUR | 24.502,58 | 25.874,56 |
GBP | 28.482,59 | 29.697,07 |
JPY | 163,25 | 172,83 |
KRW | 15,54 | 18,94 |
Cập nhật lúc 18:52:39 08/06/2023 Xem bảng tỷ giá hối đoái |