news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

In the morning trading today, A-shares fluctuated slightly, blue-chip stocks continued to strengthen, and the Shanghai Composite 50 and CSI 300 both rose for the fifth consecutive day. More stocks fell than rose, and the trading volume of the two markets tended to increase.

On the market, sectors such as real estate, gold, seed industry, and insurance were relatively active, while sectors such as copper cable high-speed connections, millimeter-wave radar, communications equipment, and automotive electronics had the largest declines.

Real estate collectively strengthened

Real estate stocks collectively strengthened in the morning, with the sector index rising by more than 2% and half-day trading exceeding yesterday's full-day trading.

I Love My Home hit the daily limit, and Asia Pacific Development and City Development were among the top gainers; leading companies such as Poly Developments, China Merchants Shekou, and Vanke A also rose strongly.

Property management, land transfer, building materials, green buildings and other sectors closely related to real estate followed the rise. Nanjing Public Utilities, Tianchen Shares, North Glass Shares, ST Tianlong and others hit the daily limit.

The Hong Kong stock market real estate sector also strengthened, with the Hang Seng Mainland Real Estate Index, the Greater Bay Area Real Estate Construction Industry Index, and the Hang Seng Real Estate Property Management Index leading the gains. C&D International Group, Vanke, and KWG Living all opened higher and ended higher.

Since late May, the central bank has focused on introducing demand-side easing policies, and most cities and provinces have successively reduced down payments, making full use of the policy toolbox to vigorously support the property market. With strong policy support and last year's low base, the policy effect may gradually emerge.

According to the data from the National Bureau of Statistics, in the first half of the year, the sales area and sales volume of newly built commercial housing in China decreased by 19% and 25% year-on-year respectively, and the decline rate narrowed by 1.3 and 2.9 percentage points compared with that in January-May. Nationwide, the online signing area of ​​second-hand housing has increased year-on-year in recent months. The second-hand housing transaction volume in June in the four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen all hit a monthly high in at least a year.

Listed real estate companies have also launched restructuring to save themselves. Huayuan Real Estate today issued an announcement on the progress of planning a major asset restructuring. Huayuan Real Estate plans to transfer the company's real estate development business-related assets and liabilities to its controlling shareholder Huayuan Group. Most of the on-site work involved in the audit and evaluation of this transaction has been completed.

Huayuan Real Estate stated that in order to better respond to market changes, improve the company's risk resistance, and realize the company's strategic transformation into a comprehensive urban operation service provider, the company plans to coordinate relevant resources in the future, continue to expand and strengthen existing businesses such as construction agency in core competitive areas, and seize opportunities in the future to acquire high-quality synergistic assets such as hotel operations, property management, and commercial management through business and asset integration, continuously improve the company's asset quality, and strengthen sustainable operating capabilities and profitability.

Midea Real Estate and Crown City Datong also announced that they plan to transfer the assets and liabilities related to their real estate development business to the company's controlling shareholder to achieve business transformation. Gree Real Estate is gradually withdrawing from the real estate development business while acquiring no less than 51% of the shares of Zhuhai Duty Free Enterprise Group.

Debon Securities said that the continued release of policy effects and the adjustment of purchase restrictions and credit policies in first-tier cities will help improve market expectations. The acquisition of existing houses will help promote active market transactions and stimulate further release of housing demand, thus helping to improve housing price expectations. It is recommended to pay attention to related targets that benefit from urban village renovation and government acquisition of existing houses; second, developers with land reserves in high-energy cities; third, pay attention to intermediary trading platforms that benefit from "selling old for new" and "buying old for new" new house second-hand replacement.

Gold hits record high

Gold stocks opened sharply higher across the board in the morning, with the sector index rising by more than 3% at one point in early trading, setting a record high.Laisen Tongling opened high and hit the daily limit in seconds, and it remained at the limit for the second consecutive day; *ST Zhongrun opened at the daily limit, and also hit the daily limit for the second consecutive day; Yimin Group, Cuihua Jewelry, Lao Fengxiang and others were among the top gainers.

Hong Kong-listed gold stocks also strengthened, with China Silver Group, Shandong Gold, Lingbao Gold, etc. all rising. Gold ETFs, gold ETFs, gold fund ETFs, etc. also rose strongly.

The spot gold price in London surged to $2,482 an ounce in the morning, setting a new historical high. The COMEX gold futures price also reached $2,487 an ounce, also setting a new record.

Domestically, the main contract of gold futures also rose in volume, with the highest increase of more than 2% at one point, approaching the historical high. Since the beginning of this year, the price of gold futures has risen by more than 20%. The main contract of silver futures also rose in volume, up more than 1%.

Benefiting from the positive impact of the continued rise in gold prices, A-share gold stocks have recently issued announcements of expected increases. Wind data statistics show that as of now, a total of 8 A-share gold listed companies have disclosed their 2024 semi-annual performance forecasts, and 6 companies have predicted good performance, including companies that have doubled their semi-annual reports.

Chifeng Gold expects to achieve a net profit of 700 million to 740 million yuan in the first half of 2024, a year-on-year increase of 124.39% to 137.21%. Regarding the reasons for the performance growth, Chifeng Gold stated that the gold production and sales price in this period increased compared with the same period last year.

Western Gold expects to turn losses into profits in the first half of 2024, with a net profit of 50 million to 69 million yuan. Western Gold also stated that the improvement in performance was mainly due to the dual increase in gold sales and sales prices produced by its own mines.

In addition, Sichuan Gold expects its net profit in the first half of 2024 to increase by 51.14%-61.94% year-on-year; Hunan Gold expects its net profit to increase by 40%-60% year-on-year; and Shandong Gold expects its net profit to increase by 42.07%-64.81% year-on-year.

Galaxy Securities believes that the current Fed's review of interest rate cuts has entered a sensitive stage, which has caused the market's expectations of interest rate cuts to continue to rise from the bottom, driving the gold price to form a trend of rising. In July, the market's attention to performance has increased, and it is one of the most performance-oriented months of the year. Historically, the excess winning rate and absolute winning rate of the A-share precious metal sector in July in the past ten years reached 80%. In July, the second quarter performance of the leading gold companies in the A-share market will rise significantly. The leading gold companies are expected to release semi-annual report performance growth forecasts in the near future, forming a performance-driven market for the gold sector.

Editor: Peng Bo

Proofreading: Zhu Tianting