Times News (Reporter Li Heming) Yesterday, the Shanghai and Shenzhen stock markets continued to rise. Among them, the real estate sector stood out, with 70 of the 72 stocks rising and 14 trading at the limit. The overall growth of the sector exceeded 6%, ranking first among all sectors. Driven by it, the Shenzhen Composite Index rose 496.58 points, or 2.61%, to a record high of 19600 points. Hua Changjin, an analyst in the real estate industry of Galaxy Securities, said that the rise of the real estate sector yesterday was not only fully adjusted in the early stage, but also temporarily
Non collection and continuous appreciation of RMB are also two major advantages; But why did the whole plate rise sharply in one day? He also admitted that "I have never been so fierce in my impression, and I can't understand it".
The first 100 yuan real estate share was born
The Shanghai and Shenzhen stock markets continued to rise yesterday, and the real estate sector became the dominant force in the market. After a wave of low in the early trading, around 11:00, the real estate stocks represented by Vanke began to start, and the stock index soon stabilized; In the afternoon, the real estate sector accelerated to soar, and Vanke, the real estate leader, ended up 9.14%, Rhine Real Estate , Lvjing Real Estate and other second tier real estate stocks have increased their limit. At present, the share price of real estate stocks is the highest China Merchants Real Estate At one point in the session, it reached 100 yuan and closed at 99.99 yuan, becoming the first 100 yuan real estate stock in both cities. The total transaction amount of the real estate sector in the two cities reached 10.7 billion yuan, more than 60% higher than the day before yesterday, and the enthusiasm of investors was quite high.
The overall continuous rise is abnormal
In response to the soaring market of the real estate sector yesterday, Hua Changjin, an analyst in the real estate industry of Galaxy Securities, said that since August, due to the expectation that the national macro adjustment policy will be further strengthened, the real estate stocks in the two cities have been in the adjustment for more than two months. Many real estate stocks, including Vanke, have fallen below the 30 day average, and some individual stocks have even fallen by more than 30%; During this period, the Shanghai Stock Index rose from 4500 points to more than 6000 points. In the eyes of many institutional investors, real estate stocks gradually turned from high priced stocks to value depressions with well adjusted performance. Since October, due to the full adjustment of the real estate sector and the recent continuous appreciation of the RMB, and the expected macro-control measures including property taxes have not been introduced, the real estate sector has continued to rebound under various favorable conditions, and the real estate index has also hit a new high; However, there was no substantive good news yesterday, and it was very rare for all stocks in the whole sector to rise across the board.
He said that the performance of real estate stocks in the first three quarters generally increased significantly, especially in the fourth quarter when the accounts receivable of each real estate company gradually arrived, and the annual report would significantly exceed the market expectations, which would certainly drive the real estate sector to continue to rise.
Property stocks don't like "high prices"
Hua Changjin believes that real estate companies are capital intensive enterprises, and their development performance mainly comes from land acquisition and housing sales. The amount of funds needed is quite large, so real estate companies have the highest enthusiasm for financing in the secondary market. This year, many real estate companies, such as Vanke, Poly, and China Merchants, raised a lot of funds through public additional issuance or issuance of corporate bonds.
As of yesterday, besides the share price of China Merchants Real Estate reached 100 yuan, Poly Real Estate It also exceeded 90 yuan, and the number of high priced real estate stocks above 50 yuan reached 6. In view of the rising real estate share price, Hua Changjin believes that too high a share price is not conducive to the circulation of equity, and the lack of market activity will affect the financing of real estate companies. Therefore, real estate companies generally do not like their own high share prices. While other industries have a succession of high priced shares of 200 yuan, or even 300 yuan, Vanke Poly and other real estate stocks have repeatedly lowered their share prices by offering shares to attract small and medium-sized investors.
Hua Changjin believes that whether the emergence of 100 yuan real estate stocks represents a change in the investment strategy of real estate companies is unknown, but it is also a sign of the development history of real estate stocks.
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
