Hong Kong/China Property Daily

CSRC investigated on HK brokers.

    Media reported that, after the plummet in the stock market on Monday, CSRChas been investigating on the abnormal trading. Media reported that, CSRChas contacted many brokers backed by Chinese capitals in HK, requesting thesenior management staffs to attend the meetings in Beijing and Guangzhou tolet CSRC better understand the trading condition on the “stock-connect”.

    Moreover, CSRC also requested the brokers to prepare related data. (Hexun).

    Beijing to tackle hoarding of units and promotion on ASP increment.

    Property market in Tongzhou District has been hot after it has been set as thevice administrative center of Beijing. The local government has been carryingout stricter supervision on the sales activities of the developers, prohibiting thepromotion on upcoming price increment, the hoarding of units, and other nonproperpromotion and sales activities. (CFI).

    Hong Kong Exchange to reduce the fee for stock-connect.

    Media reported that, HKEx (0388.HK) will lower the fees for stock-connect. Thehandling fee and transfer fee will be reduced by 30% and 97% respectively to0.00487% and 0.002% per side per trade for HK and foreign investors. The feeadjustment will be in place from 3 Aug, and are pending approval from SFC(HKEx, AA-Stock).

    Wanda Department Store closed 10 shops in 1H.

    Media reported that, Wanda Department Store has closed 10 of its shops inthe first half of 2015. The company has 99 shops with total GFA of 2.6msqm,and is the largest department store chain in China. According to the reportissued by Linkshop.com, a total of 26 department stores have been closed in1H with Wanda Department Store ranked top. (CFI).

    Luxury retail brands asking for rent cut in HK.

    Media reported that luxury retail brands to ask for rent cut of their retailbranches. In particular, management of LVMH indicated that they are now innegotiation for the retail rent with the landlord in HK. Moreover, Kering, theholding company of Gucci, mentioned on analyst meeting that theattractiveness of Hong Kong to mainland tourists has been declining. TheCompany warned that if the rental does not go down accordingly, it mightclose down some stores in Hong Kong. Besides, Burberry, another luxury retailbrand, also expressed their intention to reduce the rental expenses in HK.

    (Oriental Daily).

    Housing Society to launch Heya Aqua today.

    Media reported that Heya Aqua, the new project in Sham Shui Po by HKHousing Society, to launch Heya Aqua today. In fact, the developer hasannounced the sales brochure last week. Moreover, the showroom wasopened to estate agent today. This project consisted of 275 units in total withthe size ranging from 390 sf to 695 sf. All the units with one to three bedroomlayouts. Moreover, media reported that the housing authority planned to sellthe Heya Aqua shortly right after the good response from Heya Crystal. (SingTao).