The oversubscribed rate for the August 2nd bidding exercise was 13% for both Category A and Category B COEs, and 65% for Category E (Open) COEs. The lower number of bids in Category B COEs reflected the weakness in demand. Although the elapse time of three weeks to the next bidding exercise will provide the extra duration to lock down sales, the market traditionally sees lower demand during the Lunar Seventh Month (aka Hungry Ghost Festival). I predict that both Category A & B COE quota premium will be adequately supported to see a mild increase.
Prediction on August 24:
Category A: $16,000-17,000
Category B: $18,000-19,000
Verdict on September 9:
Category A: $18,020
Category B: $19,289
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