China Property Weekly Digest: Marking a decent start for July
- Sales recovery extended its momentum, with MTD average weekly GFA sold in 27 cities we track last week rose by another c.21% w-o-w and came in flat vs the same period in Jul-21
- Inventory level for the 7 cities we track dropped c.4 weeks to 52 weeks, with Beijing and Suzhou posted the largest improvements last week.
- Average short-selling interest fell 1pct to 9% last week; average southbound interest rose 2bps to 7.99%
- Sector top picks: COLI (688 HK), COGO (81 HK), Longfor (960 HK), CR Land (1109 HK), and Yuexiu Property (123 HK)