Securities Times said fostering a “healthy”
bull mkt a/f pandemic is now more important to the economy than ever.
(Secs Times) >>>
Shanghai Securities News is 1 of China’s 3 most widely circulated financial dailies & owned by Xinhua. It posted
this comment in a front-pg editorial.
June saw # of new retail investor
a/cs ↑30%MoM at some brokerage firms. Some OTC lender start
to offer up to 10x & 20x leverage for stock & futures trading, respectively. (Secs Times)
Ningbo expands HPR areas
& restricts mortgage loan’s approval. Jun home
px ↑1.33%MoM. (The Paper)
cities avg home price ↑ 0.53%MoM to Rmb15,461/m2
in Jun. (CN Daily)
1H primary home sales YoY growth top 5: Shao guan (32%), Wenzhou (24%), Hangzhou (21%), Chengdu (12%), Xiamen (12%). (E-house)
1st case of leasing apt built on collective land now begins operation in Beijing,
operated by Vanke. (CREB).
Shimao acqd stakes in Hopson’s 2 Beijing projects, recently won by Hopson @ land price Rmb76k/m2 & 74k/m2.
Taihoe defaulted on a medium term notes coupon payment as poor contracted sales & cash collection. (The Paper)
logistics: goods delivered ↓2.2%YoY by val to Rmb96.9trn
in 5M20, narrowed from ↓4.2%
in 4M20. (CN Daily)
Rmb1b into construction of Xiongan New Area, incl infra, ecological protection etc. (CN Daily)
Yuzhou Jun contract sales
Rmb12b w/ GFA 704,371m2, 1H Rmb42.9b w/ GFA 2.6m m2. (Co)
Yanlord Land Jun
contract sales Rmb10.9b (+60%YoY), GFA 305k m2
(+15%). 1H Rmb30b (+65%), GFA 831k m2 (+31%). (Co)
Jun contract sales +30.4% on yr
Evergrande (3333 HK):
estimate roughly $300m worth remains in the borrow pool. Yesterday
exchange stats indicates that $96m of Evergrande was short sold.
Borrow starting to get tight & rates rising
Ka Shing Foundation bought 1.13m CK Asset shrs @ avg HK$47.0373/sh July 2. Li Ka-shing’s stake
from 35.27%, Victor Li’s stake ↑to
35.37% from 35.34%. (HKEX)
step up promotion efforts at malls to encourage spending as HK govt hands out HK$10,000 / person fiscal relief in early-Jul. (HK01)
>>> Hysan offers cash rebate up to 15% (up to HK$15,000 worth of vouchers) for shoppers.
SHKP launched various promotion campaigns by giving out up to HK$3,000 worth of vouchers at its malls.
# of retail street shop prop transactions
↓ 50% to only 1,409 in 1H20, per Midland, value HK$21.18b,
↓ 70% YoY. Xpcts transaction volume to rebound in 2H20 to almost 3,000. (Takung Pao)
prices 2nd 80 units in Koko Hills resi proj for HK$20,328-24,937/ft2. Start sales Jul 11. (HKET)
Ascendas REIT Chairman
Mr Lim Hock San retires; appoints
Dr Beh Swan Gin as Chairman, effect 6 Jul. (Co)
Springleaf Tower lvl22
office fl up for sale via expression of interest, guide px S$26m. The twr is owned by Macquarie Global Property Fund II. (Straits Times)
Australian Logistics Trust (Dexus holds 51%) acqs 2 industrial props in NSW, VIC for A$173.5m. (Co)
Charter Hall Retail
REIT sells Pemulwuy + West Ryde Mktplace to interests associated w/ Primewest for A$91.5m @ 1% disc to Dec ’19 book val. (Co)
Ford Australia pre-committed to
a 51,480m2 warehouse facility in MAB / GPC’s Merrifield Biz Park in Melb’s northern suburbs. (AFR)
to cut Japan office space by 50% over the nxt 3 yrs; encouraging 80,000 office workers to primarily work from home in what it termed
a “Work Life Shift for the new normal.” >>>
HQ bldg is Mitsui Fudosan's bldg in Shinagawa but they have many
owned by various landlords. Lots of big tenants have been making
comments about cutting space only to sign new leases or be in the market
for more space shortly afterwards (IBM, GOOGL, Microsoft etc) - ie its
bad news, but maybe not quite as bad as this would
Bank of Japan’s stake in Nippon Building
from 8.21%. (Kabutan)
Bank of Japan’s stake in Np Accom Fund
from 8.19%. (Kabutan)
Nomura Secs’ stake in
↑to 7.32% from 6.02%.
BBG reporting the
BoJ ETF lending program has faced a slow start
due to lack of demand, & casting ambiguity on its attempt to ease
the side effects of continued ETF purchases. The amount lent since the
start of the program is at Y10.3b, 0.03% of Y32.8TR funds held by BoJ.
BoJ purchasing pace has significantly slowed in May/June,
but continues at annualized pace of Y7TR.
/ India’s DNR to jointly devp a 20-storey, 1mft2 office twr in Bangalore. (Mingtiandi)
MetLife leases 295k ft2 office at Embassy
Oxygen bldg in Noida, reportedly rent Rs60/ft2. (India Times)
1 Logistics plans to invest Rs9b to dev a 110-acre warehousing park near Mumbai. (India Times)
Chinese tech behemoth Alibaba
plans to open its 3rd cloud data center in Indonesia by nxt yr. (Jakarta Post)
bank xpct to cut interest rates to historic-low 1.75% nxt wk, per Reuters poll. (Star)
Philippines reports 2nd
highest # of cases in Asia at 46,333. 11 hospitals in Metro Manila
report 100% utilization of beds assigned to Covid19 patients but
is only 30% of hospital capacity. The allotment can be tweaked. Govt
has decide Metro Manila’s quarantine status before Wednesday next week.
* My pa holdings: BAC US, 1 HK, 6 HK, ST SP