＜Research＞M Stanley: COLI, CR LAND More Involved in BJ's Lowering of 1st Home Purchase Down Payment Ratio to 20%

　　Morgan Stanley remarked in a report that Beijing's reduction in the minimum down payment ratio to 20% for first home purchases meant all first-tier cities have introduced easing policies as a follow-up to the mid-May property market policy package.

　　Compared with Shanghai, Morgan Stanley believed that Beijing's property market measures would have a more moderate impact on home sales this time around. In addition, the broker is cautious about the sustainability of improvement in domestic property sales as the impact of the policies in other Tier 1 cities is cooling down rapidly.

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　　Among Morgan's coverage universe in the Chinese property sector, CHINA OVERSEAS (00688.HK) -0.260 (-1.847%) Short selling $69.32M; Ratio 47.529% and CHINA RES LAND (01109.HK) -0.150 (-0.547%) Short selling $73.32M; Ratio 21.588% are more involved with respect to this round of policy. Still, secondary property sales are likely to see a better-sustained rebound as secondary property prices are more competitive, while new supplies of first-hand flats are limited.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-26 16:25.)

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