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<HK Home>CCL Drops 0.41% WoW to ~8-yr Low
Recommend 4 Positive 6 Negative 17 |
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The Centa-City Leading Index (CCL) last printed at 138.61, down 0.41% WoW, representing the market condition in the week when the US kept its interest rates unchanged on 1 August, Yeung Ming Yee, senior associate director at Centaline Property Research, said. The sentiment of the property market was positive stimulated by the favorable news of a visible rate cut in September. However, the secondary property market remained in a tug-of-war situation, while property price adjustments continued. The CCL lost by a total of 1.77% for 3 consecutive weeks, approaching the short-term target of 138, which will be reached with a further drop of 0.61 points or 0.44%. This week's CCL hit a nearly-8-year (412 weeks) low, returning to the level at the end of September 2016, with a cumulative decline of 5.84% in 2024. The index cascaded 27.56% from the all-time high of 191.34 recorded in August 2021, and sagged 3.08% from the low of 143.02 in March 2024 before the withdrawal of harsh measures. AAStocks Financial News |
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