Commentary
2 Topics today.
China GDP
A quick comment before China GDP comes out.
Consensus by Bloomberg is that China GDP will grow by 7.5% qoq.
Considering the current situation where the market is relatively low on expectations of this number, meeting or beating the expectations may see positive market sentiment.
So, that leaves 1/3 chance that market sentiment will move further negative on the Chinese market.
Looking at bigger S-chips here like Yanlord (Z25, $1.245) and Ying Li (5DM, $0.44).
New MAS rule prohibits preferential rates for property loans to clients buying designated properties
Comment: One would consider this another round of “cooling”. Such tie-ups have facilitated affordability by the mass market and active prohibition may reduce affordability and may therefore cause sales volumes and prices to decline. Watch CityDev (C09, $10.98) and KepLand (K17, $3.57). These 2 have a higher exposure to residential property than their peers.
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