Stimulated by the State Council's announcement of researching policies to stabilize the real estate market, property stocks remained strong throughout the day, with the sector index closing up 4%. Vanke A (Shenzhen: 000002) hit the daily limit up. JPMorgan Research noted that the potential directions of the State Council's proposed policies to stabilize the property market could include mortgage subsidies and control of land supply. In addition, following Beijing, Shanghai released local implementation guidelines for its "August 28" policy, with similar directions but minor differences. However, overall, mortgage disbursement still appears relatively tight. The bank expects the market may react positively to policy stimuli in the short term, with reactions lasting at least until National Day. However, if the final policy measures turn out milder than expected, the sector may underperform again.
On the downside, despite continued rises in international oil prices, most A-share oil stocks declined. Sinopec (Shanghai: 600028) closed down 2.4%. With the U.S.-Iran conflict entering its eighth month and the strait still effectively blocked, shipping stocks led the declines, with COSCO Energy (Shanghai: 600026) falling 4.5%. (ry)
| Close (points) | Change (%) | Trading value (billion RMB) | |
|---|---|---|---|
| SSE 300 | 4345.21 | +0.10 | |
| Shanghai Composite Index | 3830.45 | +0.18 | 6617.04 |
| Shenzhen Component Index | 12901.95 | +0.34 | 7474.93 |
| ChiNext Index | 3142.56 | +0.09 | |
| STAR 50 | 1569.34 | +0.86 | |
| B Share Index | 304.41 | +1.31 | 0.93 |
| Shenzhen B Index | 1153.69 | +0.32 | 0.34 |
