摩根大通：中国房地产_又一轮由投机驱动的上涨，但对新政策支持的期望确实在上升

Asia Pacific Equity Research 11 July 2025 China Property Another speculation-driven rally, but hopes for new policy support are indeed rising The sector jumped 6% on 10 July (HSI: +1%) due to market speculation that a "high-level meeting" will be held next week. We cannot verify the speculation, and if nothing concrete comes out by next week, we would expect some profit-taking. However, "the worse, the better" — weakening property data may drive stronger policy support (and thus a rally). Even if nothing co ...