Local property counters have suffered hammering for the last few months, but not full blow yet as the ‘hope’ factor for the sector to sustain price slump still high.
The opening of IR, BFC and a few high profile projects surrounding it have been praised as factors to lift the market in coming few years instead of depressing it.
This seems to against the principle of market supply and demand. The truth remain to been seen.
The focus of The Edge this week look at the China property plays. Not surprisingly, most of the counters are penny stock except Yanlord.
China New Town was wearing an IPO price tag of 83 cents a share but last close at 9 cents. IPO investors who continue to hold on to their allocated shares until now will have their capital cut by 89.2%.
China Property plays start discounting bad news
Brother Holdings – Hanging on to support
$0.18
Centraland – Testing Resistance
$0.495
China New Town – Could drift lower
$0.09
China Yuanbang Property- Temporary rebound
$0.15
Capitaretail China Trust – At support
$0.99
Yanlord – Rebound is temporary
$1.60
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