Ho Bee / Yanlord to jointly acquire a high-end residential site with GFA of 388k sqm in Tangshan Nanhu Eco-City for RMB 505m (or RMB 1302/ sqm). Likely positive over the longer term as this would allow both companies to tap on the rapid development of the Bohai Economic Region, however we caution that recent months have seen policy changes in China aimed at cooling property demand.
Yanlord: Stochastics has been rising rapidly, with the fast stochastic nearing overbought levels. However, RSI still near neutral range. At close of $1.70, stock seems to be teetering on the verge of a breakout from here. Resistance 1 at $1.80, resistance 2 at $2.00, vs support 1 at $1.60, support 2 at $1.50.
Ho Bee: Stochastic and RSI movements similar to Yanlord. Key resistance at $1.60 (200 MA), vs $1.40 support.
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