Hong Kong Developers Mostly On Track To Meet Sales Targets; Mainland Sales
Above Expectations
CCL index has ended its 5-week rising streak and reported a 0.9% wow decline in the week ending 4 Jul 21. Meanwhile, 1H21 home transaction volumes were up 47%/16% vs 1H20/1H19. Hong Kong-based developers appear on track to achieve their FY21 sales targets thanks to a post-pandemic home sales frenzy with sales in the mainland generally coming in above expectations. Maintain MARKET WEIGHT.