Stock Surge: DUO Hits 52-Week High on Real Estate Policy Boost

Sep 30, 2024

Yesterday, Fangdd Network Group (DUO, Financial) saw its stock price soar to a 52-week high, with shares spiking over 156% to $3.25. This surge follows the Chinese central bank's announcement of four significant financial policies to support the real estate sector. These measures include adjusting existing mortgage rates, lowering the minimum down payment for second homes, extending the timeline for "16 financial measures," and optimizing policies for re-loan guarantees for affordable housing. Additionally, the four major state-owned banks have committed to adjusting existing mortgage rates by October 31.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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