Pressure from the U.S. Treasury sell-off continues. The yield on the 30-year U.S. Treasury bond rose above 5.44% on Thursday (24th), up more than 3 basis points from the previous day, hitting the highest level since 2004. Although the U.S. Treasury conducted a long-term bond buyback on Thursday, the final amount purchased was only about $4.08 billion, lower than the previously announced maximum buyback amount of $6 billion.
Current interest rate futures indicate that the market expectation for a 25-basis-point U.S. rate hike in October has surged to over 70%.
Additionally, Beijing's housing authorities and other departments have released new real estate regulations: starting August 28, new projects will prioritize ready-built home sales. Real estate developers must prepare a ready-built sales plan after the initial property registration and apply to the district housing and urban-rural development (housing management) department for ready-built sales registration. At the same time, strict implementation of pre-sale management requirements will be fully enforced; projects applying for pre-sales must complete the main structural topping-out and provide signed and stamped records from the project construction, surveying, design, construction, and supervision units.
Currently, the Hang Seng Index stands at 24,305, down 455 points or 1.8%, with main board turnover of nearly HK$19.1 billion. The Hang Seng China Enterprises Index is at 8,103, down 162 points or 2%. The Hang Seng Tech Index is at 4,252, down 109 points or 2.5%. (am)
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| Vanke Enterprise (02202) | 2.41 | Down 5.49% |
| China Overseas (00688) | 12.14 | Down 3.5% |
| Sunac China (01918) | 0.63 | Down 3.08% |
| Longfor (00960) | 5.325 | Down 2.38% |
| Shimao Group (00813) | 0.038 | Down 2.56% |
| Powerlong Real Estate (01109) | 28.34 | Down 2.48% |
| Country Garden (02007) | 0.178 | Down 4.3% |
| Agile Property (03383) | 0.139 | Down 1.42% |
| Greentown (03900) | 5.765 | Down 2.62% |
