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Many real estate stocks surged by over 60%! On the first day of the new policies in Beijing, Shanghai, Guangzhou, and Shenzhen, some people even "bought houses in the air" overnight!
After the opening of the Hong Kong stock market, the real estate sector has the highest increase, with more than several individual stocks still rising by over 60% as of the time of writing.
Fitch Ratings: Quasi-special debt purchase of houses signifies a significant change in central policy.
Credit rating agency Fitch Ratings has stated that if the central government allows local governments to use special debt funds to acquire unsold housing, it will indicate a significant change in the way the central government deals with the sluggish real estate market. Once the policy is implemented, it reflects a shift in focus towards resolving the issue of excess housing inventory, rather than focusing on 'buying a house and handing it over'. In addition, Fitch Ratings adds that local governments have previously been allowed to use special debt to acquire idle land from developers to build affordable housing, and if the use of special debt is further expanded, it will accelerate the issuance of special debt and allow local governments to address the issue of excess housing inventory more quickly. However, Fitch Ratings questions whether the returns from affordable housing are sufficient to repay the related debt.
Ever Reach Group (03616) delays the publication of its 2024 interim performance and continues to suspend trading.
Ever Reach GP (03616) issued an announcement that the board of directors has decided to establish a special investigation committee, consisting of all independent non-executive directors...
EVER REACH GP: INSIDE INFORMATION - DELAY IN PUBLICATION OF 2024 INTERIM RESULTS ANDDELAY IN DESPATCH OF 2024 INTERIM REPORT;ANDCONTINUED SUSPENSION OF TRADING
Ever Reach Group (03616.HK): PricewaterhouseCoopers has resigned as the company's auditor.
Ever Reach GP (03616.HK) announced that PricewaterhouseCoopers has resigned as the company's auditor, effective from August 9th.
Ever Reach Group Auditor Resigns
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