Real Estate Stocks Soar as Shanghai Composite Index Hits 3,100 Points
On April 29, real estate stocks saw a significant uptick as the three major A-share indexes collectively rose in volume, with the Shanghai Composite Index reaching 3,100 points. The Shanghai Composite Index rose by 0.79%, the Shenzhen Component Index rose by 2.22%, and the GEM Index rose by 3.50%. The BSE 50 Index also saw an increase of 0.80%. The total turnover of the Shanghai, Shenzhen, and Beijing markets amounted to 1,216.9 billion yuan, marking a significant increase compared to the previous day.
In terms of sector themes, real estate development, car dismantling concepts, Sora concepts, and photovoltaic concepts were among the top gainers, while precious metals and Chinese shipbuilding sectors experienced losses.
The real estate development sector propelled the market’s upward trend, with several stocks hitting their daily limit. This surge in the real estate market comes following news that Chengdu, Sichuan, has issued a notice to optimize policies and measures for the stable and healthy development of the real estate market. The notice stated that housing transactions in Chengdu will no longer be subject to review of house purchase qualifications, and there will be no restrictions on the number of units purchased.
Moreover, new energy concept stocks rebounded, with several companies seeing significant increases in their stock prices. Notably, Haili Wind Power, Devon Nano, and Dike Holdings all rose by more than 10%.
In other news, Li Qiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the Beijing Auto Show and emphasized the development of intelligent networked new energy vehicles. Additionally, there are rumors that Shenzhen may optimize and adjust its purchase restriction policy in the near future, and Tesla and Baidu are rumored to launch a lane-level map information cooperation.
The market’s positive performance reflects growing investor confidence in the real estate and new energy sectors, as well as advancements in intelligent networked vehicles. Stay tuned for further developments in the financial markets.
(Source: Southern Metropolis Daily)