DUO (DUO, Financial) saw a remarkable pre-market surge of nearly 80%, reaching a high of $2.26. Meanwhile, BEKE (BEKE) was up over 12% in pre-market trading, standing at $22.5. BEKE's H-shares also closed with a gain of over 12.7%, priced at 59.6 Hong Kong dollars.
On September 29, the People's Bank of China announced four new policies aimed at supporting the real estate market. These include adjusting existing mortgage rates, lowering the minimum down payment for second homes, extending the timeframe for the "16 Financial Measures" policy, and optimizing policies for affordable housing refinancing. Following this, the four major state-owned banks declared they would adjust existing mortgage rates by October 31.
The Ministry of Housing and Urban-Rural Development's meeting also emphasized the need to stabilize the real estate market, granting key cities more autonomy in market regulation. In response, Shanghai, Shenzhen, and Guangzhou introduced new real estate policies. Notably, Guangzhou became the first major city to completely lift all restrictions on home purchases for residents.
