The three major indexes continued to rebound today, led by the gem index. On the market, the real estate plate strengthened again in the afternoon, the plate rose and stopped, and the hydrogen energy plate was strong throughout the day. CRO concept stocks rose sharply, traditional Chinese medicine plate concussion stronger. Some high-level stocks fell sharply in the afternoon. On the whole, the number of stocks up and down is basically the same. Today's turnover on the Shanghai and Shenzhen stock markets is 942.5 billion, a decrease of 20.3 billion compared with the previous trading day. In terms of plates, CRO, communications equipment, hydrogen energy, real estate, traditional Chinese medicine and other sectors led the rise, while pharmaceutical commerce, electronic ID cards, building energy conservation, oil and gas exploration and other sectors led the decline. By the close, the Prev index was up 0.34%, the Shenzhen Composite Index was up 0.73%, and the gem index was up 1.03%. Northbound funds sold 194 million net throughout the day, of which Shanghai shares sold 1.491 billion and Shenzhen stocks bought 1.297 billion.
For the future market trend, institutions have expressed their views.
Zhongyuan Securities said the hot spots changed again, with real estate and cyclical industries leading the rise. On Tuesday, the A-share market encountered obstacles and a small shock. The stock indexes of the two markets fluctuated slightly after opening low in the morning, followed by the Hang Seng Index at one point in the afternoon, Prev fell back after touching a high of 3279 points, and fluctuated basically around a narrow range of 3250 points throughout the day. The hot spots in the market changed again on Tuesday, with real estate, finance, military industry and cyclical industries leading the rise, and the growth stocks that led the rise the day before yesterday fell back one after another, and the market still lacks strong hot spots to lead gains. The trading volume of the two cities is less than one trillion yuan, and the characteristics of stock game are significant. Considering that the Hang Seng Index has continued to rebound in recent days, it is expected that after fully gaining momentum, the Prev is expected to start a concussive upward rebound again, and it is recommended that we continue to pay attention to the changes in the policy side, the capital side and the outer disk.
Zhongtai Securities believes that the real estate policy of the core cities still has reservations. Since the beginning of this year, nearly 60 cities across the country have adjusted their real estate sales policies, but they are mainly concentrated in the third and fourth lines. Relevant policies include lowering mortgage interest rates, housing subsidies, reducing the down payment ratio, increasing the provident fund loan quota or relaxing the provident fund loan conditions, and opening up the settlement conditions. There is a transmission chain of house price, real estate sales and real estate development investment in the property market. according to the housing sales amount and sales area data published by the National Bureau of Statistics, the estimated decline in the unit price of housing sales is much greater than the change of the house price index in 70 cities, which is difficult to play a leading role in real estate sales and investment. At this stage, the key to the stabilization of the property market lies in the core cities, with 36 cities, including municipalities directly under the Central Government, provincial capitals and cities separately listed on the plan, as typical representatives. the resident population continues to increase, and there is a basis for housing demand.
Citic Construction Investment pointed out that the REITs pilot of rental housing has accelerated the landing, and the new real estate development model is getting wider and wider. In 2020, China's floating population will reach 376 million, accounting for 26.6% of the total population. The contradiction between supply and demand of housing in core cities is prominent. At the same time, the proportion of urban tenants in China is only 1/3 of that of developed countries, so there is still much room for improvement. The development of China's rental housing market can be divided into two main lines: indemnificatory and market-oriented. At present, indemnificatory rental housing has become the core pillar and main increment of China's housing security system. It is planned to add 6.5 million units of indemnificatory rental housing in 40 key cities during the 14th five-year Plan. At present, the development of rent-guaranteed housing is mainly restricted by factors such as low yield, reliance on government support and limited financing channels. According to CRIC data, 87.9% of pure leased land was obtained by local government-owned enterprises in 2021. The development of rent-guaranteed housing REITs will help to break through the exit of housing leasing, broaden the financing channels and improve the balance sheet of enterprises.
Pay attention to developers and agent construction enterprises that have first-mover advantages in the construction and operation of rental housing. From the list of projects to be declared for indemnificatory rental housing REITs with public information and the "experience list for replicable promotion of developing indemnificatory rental housing" issued by the Ministry of Housing and Construction, housing enterprises generally participate in the construction of indemnificatory rental housing through collective construction land, and the relevant beneficiaries mainly include head housing enterprises such as Poly Development, Vanke, China Resources Land, Longhu Group, and so on. In addition, there is a broad construction demand for affordable rental housing. For the construction of housing enterprises also ushered in good, such as Greentown Management Holdings, Central Plains Construction, and so on.
![[SMM khảo sát] Điểm tin ngành năng lượng hydro tuần 29/08 - 03/09/2026](https://imgqn.smm.cn/usercenter/PPLUj20251217171727.jpg)
