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[stock market quotation] property stocks weakened in the afternoon, such as Guancheng Chase, Jiakai City, etc., hit the falling limit.
Sep 25,2020 14:19CST
translation
Source:SMM
Today, real estate stocks continued to weaken after noon, with more than 110 stocks floating green in the plate. Among them, Guancheng Chase, Jiakai City, Taihe Group and Pearl River Industries hit the daily limit, while Guochuang High-tech, Jinke shares and Shanghai Real Development fell more than 3%.
The content below was translated by Tencent automatically for reference.

SMM9 March 25 News: today's real estate stocks continue to weaken after noon, more than 110 stocks in the plate floating green. Among them, Guancheng Chase, Jiakai City, Taihe Group and Pearl River Industries hit the daily limit, while Guochuang High-tech, Jinke shares and Shanghai Real Development fell more than 3%.

It was reported yesterday that as of June 30, 2020, the interest-bearing debt balance of Evergrande Group had reached 835.5 billion yuan, and the company had to repay 130 billion yuan in principal to strategic investors and pay 13.7 billion yuan in dividends by January 31, 2021. If Evergrande can not complete the restructuring on time, it may lead to the rupture of its cash flow, which will lead to the cross-default of Evergrande Group in the relevant banks, trusts, funds and other financial institutions and bond markets, resulting in financial systemic risks and social risks. But then China Evergrande issued a statement saying that rumors about the company's restructuring spread online in recent days, and that the relevant documents and screenshots were fabricated and defamatory. Evergrande is doing well at present. In intraday trading today, Evergrande Real Estate Group's continuing debt "19 Evergrande 02" and "19 Evergrande 01" both fell 20%, temporarily suspending trading in intraday trading, or triggering a sell-off in the market.

In addition, the recent upgrading of local real estate regulation and control also has a significant impact on real estate transactions. Under the attitude that the government has repeatedly stated that "housing speculation does not speculate", the policy of restricting purchase, loan and sale in many places in the country has been continuously strengthened. Statistics Bureau data show that from January to August, the sales area of commercial housing was 984.86 million square meters, down 3.3% from the same period last year. Although the rate of decline has narrowed, but in terms of the allocation of residents' wealth, the status of real estate is gradually going downhill.

Real estate
property market

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