China's A-shares shrank and rose on the 29th, with the real estate sector leading the gains

China News Service, Beijing, September 29 (Reporter Chen Kangliang) China's A-shares shrank and rose on Tuesday, the 29th, and the major stock indexes collectively turned red. Real estate-related sectors were among the top gainers and performed well.

According to statistics from the financial data service provider Oriental Fortune, the real estate development and real estate services sectors rose by 3.57% and 2.95% respectively that day; in terms of individual stocks, the stock prices of Cinda Real Estate, Huafa Holdings, Binjiang Group, Shenzhen Property A, and Vanke A hit the daily limit (up about 10%).

In terms of news, the recently held executive meeting of the State Council of China proposed to launch a number of pragmatic and effective incremental policies, optimize fiscal expenditure arrangements, make good use of local government debt balance limits, comprehensively use and timely adjust monetary policy tools, increase re-loan quotas for scientific and technological innovation and technological transformation, support agriculture and small businesses, etc., and study and introduce policy measures to stabilize the real estate market, promote employment and increase income.

Yuan Hao, an analyst at Shenwan Hongyuan Securities, said that the above-mentioned State Council executive meeting proposed to study and introduce policies to stabilize the real estate market, and also made it clear to continue to study policy measures to boost domestic demand. This reflects the positive attitude of Chinese officials towards the real estate market. Policies to further stabilize the real estate market are expected to be launched, which will benefit related listed companies.

In terms of the performance of the major A-share indexes that day, as of the close, the Shanghai Composite Index reported 3,830 points, an increase of 0.18%; the Shenzhen Component Index reported 12,901 points, an increase of 0.34%; the GEM Index reported 3,142 points, an increase of 0.09%. The total transaction volume in Shanghai and Shenzhen stock markets was approximately 1,409.2 billion yuan, a decrease of approximately 293.6 billion yuan from the previous trading day.