• State-owned Enterprises Performance: CHINA RES LAND, CHINA OVERSEAS, and CHINA JINMAO are rated as overweight, with varying short selling ratios and target prices, while CHINA JINMAO experienced a slight decline in share price.

• Private Enterprises Overview: CHINA VANKE and LONGFOR GROUP are rated underweight and overweight respectively, with CHINA VANKE showing a modest increase in share price, while COUNTRY GARDEN and SUNAC are also rated underweight with minimal price changes.

• Property Managers Insights: CHINA RES MIXC and POLY PPT SER are highlighted as overweight with significant price increases, while other property managers like CG SERVICES and A-LIVING have mixed ratings and short selling ratios.

• Market Analysis Commentary: JPMorgan notes that mortgage subsidies alone may not be sufficient to revitalize the Chinese property market, indicating a cautious investor sentiment without significant overreactions observed.

• Stock Performance Overview: Several Chinese real estate stocks experienced declines, with CHINA RES LAND and CHINA OVERSEAS showing significant short selling ratios of 24.713% and 25.553%, respectively.

• Market Sentiment: Analysts remain cautious about the Chinese property market, with recommendations favoring CHINA RES MIXC as a top pick amidst signs of further weakening in the sector.

• Stock Performance: Various Hong Kong stocks showed positive movements, with A-LIVING up 3.03%, CG SERVICES up 4.11%, and GREENTOWN SER up 4.29%.

• Short Selling Data: Significant short selling activity was noted, with ratios ranging from 3.615% to 27.161% across different companies, indicating varying levels of market skepticism.

• Rating Changes: Several companies experienced changes in their ratings, with CG SERVICES upgraded from Underweight to Equalweight and SUNAC SERVICES downgraded from Equalweight to Underweight.

• Target Price Adjustments: Target prices for several stocks were adjusted, with notable increases for CHINA RES MIXC and POLY PPT SER, reflecting positive market sentiment.

• Chinese Property Managers' Performance: Morgan Stanley reports early signs of stability in Chinese property managers for 1H25, predicting industry growth in 2H25 with YoY earnings growth of 4%/9%/11% for 2025-27.

• Stock Ratings Adjustments: Morgan Stanley upgraded ONEWO's rating to Overweight and increased its target price, while downgrading SUNAC SERVICES to Underweight due to poor earnings prospects, with other stocks like CHINA OVS PPT and CG SERVICES adjusted to Equalweight.

Stock Performance Overview

• A-LIVING (03319.HK): The stock increased by 0.070 HKD, representing a 2.333% rise. It has a short selling volume of 3.23 million HKD, with a short selling ratio of 16.089%. The rating is currently a "Hold" with a target price (TP) adjustment from 2.6 to 3.2 HKD.

• CHINA OVS PPT (02669.HK): The stock remained unchanged at 0.000 HKD. It has a short selling volume of 1.27 million HKD and a short selling ratio of 3.678%. The rating is "Buy" with a target price of 6.6 HKD.

• CHINA RES MIXC (01209.HK): The stock rose by 1.340 HKD, a 3.583% increase. It has a significant short selling volume of 29.51 million HKD and a short selling ratio of 20.104%. The rating is "Buy" with a target price of 44 HKD. Citi has raised its TP to 48.5 HKD while maintaining a "Buy" rating.

• CG SERVICES (06098.HK): The stock saw a slight increase of 0.020 HKD, or 0.309%. It has a short selling volume of 3.51 million HKD and a short selling ratio of 5.760%. The rating is "Hold" with a target price adjustment from 6.4 to 6.2 HKD. CLSA expects the commercial management business to remain strong, lifting the TP to 41.2 HKD.

• GREENTOWN SER (02869.HK): The stock increased by 0.020 HKD, or 0.406%. It has a short selling volume of 159.76K HKD and a short selling ratio of 1.866%. The rating is "Hold" with a target price of 5.4 HKD.

• SHIMAO SERVICES (00873.HK): The stock decreased by 0.020 HKD, a decline of 2.597%. The rating is "Hold" with a target price adjustment from 0.83 to 0.78 HKD.

• SUNAC SERVICES (01516.HK): The stock fell by 0.010 HKD, or 0.595%. It has a short selling volume of 1.89 million HKD and a short selling ratio of 10.437%. The rating is "Underweight" with a target price of 1.4 HKD.

Market Insights

• Short Selling Trends: The data indicates varying levels of short selling across different stocks, with CHINA RES MIXC showing the highest short selling volume at 29.51 million HKD, suggesting significant market interest or concern.

• Profit Guidance: JPMorgan has noted that CG SERVICES' profit for the first half of 2025 missed expectations, but they have raised their dividend guidance, indicating a potential for future growth despite current performance challenges.