Â
>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<
Â
Â
Since mid-August, shares of Chinese property developers has outperformed the MSCI China Index by 17%, however, despite the expectation for policy easing, the rebound of sector will likely not be sustainable due to multiple factors including the tepid month-to-date sales, share placement risk and concerns over pandemic-induced lockdowns, etc., said JPMorgan in a note on Friday.
JPMorgan advised the investors to wait for a better entry point to acquire SOE developers on dips, with its top picks being China Overseas & Land Investment, China Resources Land, China Resources Mix , Poly Property Services and China Overseas Property.
The bank, on the other hand, remained cautious on Sunac Services, Shimao Services, R&F Properties and Logan Group.