RADIANCE HLDGS (09993) saw its stock price plummet 13.59% intraday, reflecting broad weakness in Hong Kong-listed mainland property stocks.

The decline comes as recent data from China's National Bureau of Statistics indicates ongoing pressure in the property sector, with key indicators such as new home sales and construction starts remaining weak. Investors are questioning the sustainability of the recent stabilization in first-tier property markets and may be engaging in profit-taking after the sector's accumulated gains since April.

In the short term, the property sector is expected to enter a new observation window for fundamentals and could experience volatility in the absence of new catalysts. However, from a medium-term perspective, the presence of market divergence suggests that expectation gaps still exist, and the sector may retain significant upward potential once a consensus forms on a turning point in the property market.