US Stock Market Move | Inventory of commercial housing decreased for three consecutive months. Fangdd Network Group Ltd Sponsored ADR Class A (DUO.US) rose by more than 9%.

On Monday, the stock price of Chinese innovative real estate technology company Fangdd Network Group Ltd Sponsored ADR Class A (DUO.US) rose, with the stock up over 9% to $2.644 as of press time. On the news front, the National Bureau of Statistics released data on the price changes of residential properties in 70 large and medium-sized cities in May. The data shows that the year-on-year decline in new home prices in the 70 major cities continued to narrow, and the inventory of commercial housing continued to decrease; the number of cities with month-on-month increases in second-hand home prices fluctuated, but the pace of sales accelerated. On the same day, the spokesperson of the National Bureau of Statistics and director of the Comprehensive Statistics Department of the National Bureau of Statistics, Fu Linghui, stated at a press conference held by the State Council Information Office that this year, with the accelerated implementation of various stable real estate policies, the real estate market continues to move towards stabilization and recovery. Based on the situation in May, the overall operation of the real estate market is generally stable.