Chinese property stocks climbed UOB bullish sales prospects

Most of the major property stocks in China have climbed this morning, with a 4% increase in public security property (00754-HK), as well as more than 2% of Sino-Ocean Real Estate (03377-HK) and Huarun Land (01109-HK), Chinese Overseas Development (00688-HK), Agile Real Estate (03383-HK) and Soho China (　　00410-HK) also rose more than 1%. A new study by Dahua (UOB), which maintains an overweight rating on the industry, is expected to continue to boost sales of property by predicting an improved economic outlook, lower interest rates and already bottoming asset prices. said that although China's real estate sales in the first 4 weeks of June were 7% lower than in May, the decline was still lower than the bank's expected 10%. Sales figures for the second half of the year are still bullish, despite the volatility of monthly sales data. Sales of major cities in the first half of this year increased by about 90% over a year earlier.