Real estate: In November, real estate investment fell 11.6% yearonyear, a slightly narrower decline than in October. The yearonyear declines in construction starts and completion areas widened, reflecting another slowdown in yearend construction activity. This is also consistent with the November construction industry PMI falling back to 49.7% and highfrequency startup rate data rebar startup rate was 2pct lower than the same period last year. The stabilization of real estate sales is being consolidated: in November, the real estate sales area turned positive to 3.2% yearonyear, and the price of newly built houses in firsttier cities was 4.3% yearonyear, with the decline narrowing. We believe that shortterm policy impulses may not be able to change the differentiation between sales and completions, and focusing on completions may still be a policy area that needs to be strengthened at the end of the year.
Risk warning: Future policies may not meet expectations; changes in the domestic economic situation may exceed expectations; changes in exports may exceed expectations.
Note: This article comes from the securities research report "Comment poland phone number list on Economic Data in November : November Economy: Expectations for the Final Battle" released by Minsheng Securities, analysts : Tao Chuan SAC No. S0100524060005, Shao Xiang SAC No. S0100524080007, Zhong Yumei SAC No. S0100124080017
Hong Kong stock closing review: all three major indexes fell! Airline stocks and domestic real estate stocks are sluggish, while oil stocks are strong
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On December 16, market sentiment was depressed and the three major Hong Kong stock indices fell collectively. The Hang Seng Tech Index fell 1.45%, and the Hang Seng Index and CSI 300 Index fell 0.88% and 0.75% respectively .