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<HK Home>Centa Valuation Index (Major Banks) (CVI) Snaps 9-Wk Rising Streak
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Centa Valuation Index (Major Banks) (CVI) last printed at 70.29, down 3.44 points from last week's 73.73. CVI softened slightly this week, ending a 9-week uptrend. Yeung Ming Yee, senior associate director at the research department of Centaline Property, noted that the CVI has been above 60 points for the past 5 weeks, and property prices have stabilised in the short term. The US Federal Reserve has kept interest rates unchanged for 6 consecutive times, suggesting that interest rates have peaked. However, the US economy and employment data are still higher than expected, so the time to cut interest rates will be delayed. She highlighted that there are signs of a slowdown in second-hand transactions recently. Major banks are also becoming more cautious in their mortgage business, with Hang Seng raising its refinancing rate and HSBC cancelling its rebate on mortgages for unfinished flats. She therefore commented that there is a chance for the CVI to recede to the 50-70 level in the short term, which is indicative of a volatile and contentious trend in property prices. AAStocks Financial News |
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