Core Viewpoint - The article discusses the recent trends in housing prices across major cities in China, indicating a halt in the previous upward momentum and an increase in the number of cities experiencing price declines, suggesting a prolonged search for a bottom in the housing market [1][4]. Housing Market Trends - In April, the number of cities with declining housing prices increased, with only six cities showing month-on-month price increases compared to fourteen in March [4]. - Major cities like Beijing, Hangzhou, Xiamen, and Shenzhen, which previously showed resilience, have now entered a downward trend [4]. - The average housing price index for first-tier cities decreased by 0.2%, while second and third-tier cities saw a decline of 0.4%, indicating a broader market weakness [4]. Economic Indicators - The current mortgage interest rates have dropped to around 3%, but the rental yield in many first and second-tier cities remains below 2%, leading to negative cash flow for property owners [4]. - The article highlights that the housing market is experiencing a structural shift due to demographic changes, with a significant reduction in the growth of the resident population expected over the next few decades [5]. Stock Market Insights - The article mentions that the valuation of the CSI 300 index is currently at 12.6, which is lower than many global indices, indicating a potential undervaluation in the A-share market [6]. - The low valuation of the CSI 300 is attributed to a high proportion of financial and state-owned enterprises, which may not prioritize shareholder returns [6]. Broader Market Context - The article notes that the Hong Kong stock market has seen significant new stock financing, surpassing 60 billion this year, indicating a strong appetite for capital among Chinese companies [7]. - The article also touches on the impact of U.S. economic conditions, including rising long-term treasury yields and the implications of a recent downgrade of the U.S. sovereign rating by Moody's [7].

智通财经5月8日电，英国4月Halifax季调后房价指数环比增长0.3%，预期下降0.1%。 ...

英国4月Halifax季调后房价指数年率 3.2%，预期2.6%，前值由2.8%修正为2.9%。 ...

英国4月Halifax季调后房价指数月率 0.3%，预期-0.1%，前值-0.5%。 ...

英国4月Nationwide房价指数月率 -0.6%，预期0%，前值0%。 ...

智通财经4月30日电，英国4月Nationwide房价指数同比增长3.4%，预期4.1%。 ...

美国2月FHFA房价指数环比 0.1%，预期 0.3%，前值 0.2%。 ...

美国2月FHFA房价指数月率、S&P/CS20座大城市未季调房价指数年率将于十分钟后公布。 ...

②17:00 欧元区4月工业景气指数、4月经济景气指数； ③20:00 美国财长贝森特参加发布会； ④20:30 美国财长贝森特发表讲话； ⑤21:00 美国2月FHFA房价指数月率、2月S&P/CS20座大城市未季调房价指数年率； ⑥22:00 美国3月JOLTs职位空缺、4月谘商会消费者信心指数； ①14:00 德国5月Gfk消费者信心指数； ⑦次日04:30 美国至4月25日当周API原油库存。 周二（4月29日）重点关注财经事件和经济数据 ...