Today (September 29), the real estate sector led the entire market higher. Hangzhou Binjiang Real Estate Group Co.,Ltd. (ASX: 002244) hit the daily limit up, while China Vanke Co.,Ltd. (ASX: 000002) touched the limit up, with Greenland Holdings, China Merchants Shekou, and other stocks following with significant gains. The Real Estate ETF Huabao (159707), which focuses on central and state-owned enterprises and high-quality developers, saw notably increased market attention, with its underlying index rising as much as 5.89% during intraday trading and currently up 5.17%, strongly recovering its 5-day moving average.

On the news front, the State Council Executive Meeting was held on September 28. The meeting proposed to "introduce a batch of pragmatic and effective incremental policies," optimize fiscal expenditure arrangements, make good use of local government debt balance limits, comprehensively apply and timely adjust monetary policy tools, increase re-lending quotas for scientific and technological innovation, technological upgrading, and support for agriculture and small businesses, and study and introduce policy measures to stabilize the real estate market and promote employment and income growth.

On the one-month anniversary of the "8·28" housing market stimulus package, Shanghai introduced local implementation rules. On September 28, Shanghai's new housing policies officially took effect, with four municipal departments jointly issuing the "Implementation Opinions on Implementing the Notice on Improving the Commercial Housing Sales System," effective from that day. The content covers strengthening pre-sale management, implementing completed housing sales, and promoting the lead bank system.

According to Citic Securities, the "8·28" housing stimulus package reshapes the fundamental system of real estate, and the divergence among cities and enterprises in real estate development will continue. The brokerage remains bullish on the performance of high-quality enterprises, favoring developers with high-quality land reserves and strong product capabilities in core city markets.

In terms of valuation, leading real estate companies represented by central and state-owned enterprises and high-quality developers are still at low valuation levels. As of September 28, the latest PB valuation of the CSI 800 Real Estate Index was only 0.56 times, lower than over 96% of the time range in the past 10 years, showing clear characteristics of low valuation and potentially significant room for recovery.

For investors looking to gain exposure to central and state-owned enterprises and high-quality developers, the Real Estate ETF Huabao (159707) is worth close attention. According to available information, the Real Estate ETF Huabao (159707) tracks the CSI 800 Real Estate Index, bringing together the market's leading high-quality real estate companies with a high concentration of central and state-owned enterprises. Against the backdrop of industry consolidation, leading real estate companies may demonstrate greater elasticity.

Data source: Shanghai and Shenzhen Stock Exchanges, China Securities Index Company, etc. ETF fee-related notes: When investors subscribe or redeem fund shares, the subscription and redemption agent may charge a commission of no more than 0.5%. On-exchange trading fees are subject to what the securities company actually charges, and no sales service fee is charged.

Risk disclosure: The Real Estate ETF Huabao passively tracks the CSI 800 Real Estate Index. The index base date is December 31, 2004, and the publication date is December 21, 2012. The constituent stocks of the index are adjusted in due course according to the index compilation rules. The backtested historical performance does not predict the future performance of the index. The index constituent stocks mentioned in this article are for illustrative purposes only. Individual stock descriptions do not constitute investment advice of any form, nor do they represent the holdings or trading activities of any fund under the management company. The risk rating of this fund as assessed by the fund manager is R3-Medium Risk, suitable for balanced-type (C3) and above investors. Any information appearing in this article (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, and any form of expression) is for reference only, and investors must be responsible for their own investment decisions. In addition, any views, analyses, and forecasts in this article do not constitute investment advice of any form to readers, nor shall they bear any responsibility for direct or indirect losses caused by the use of the content herein. Fund investment involves risks. Past performance of a fund does not represent its future performance. The performance of other funds managed by the fund manager does not constitute a guarantee of the fund's performance. Fund investment requires caution. MACD golden cross signals have formed, and these stocks are performing well!