摩根士丹利：中国房地产_5 月数据恶化；预计疲软趋势将在第三季度延续

June 18, 2025 09:00 AM GMT China Property | Asia Pacific Monthly Tracker: May Data Worsened; We Expect Weak Trends to Continue in 3Q Property sales and home prices continued to drop at a faster pace, as expected, amid higher secondary inventory. Weakening resident sentiment, reactive policy and high base may put extra pressure on home prices in 3Q. We suggest quality SOEs with high visibility for alpha, with CR Land as Top Pick. Stock ideas: With leading indicators pointing to a fast-weakening physical mark ...