China Vanke jumps on plan to auction Shenzhen land plot

Agile group

09/05/2024 05:21

** Hong Kong shares of China Vanke  2202.HK  jump 8.3% to
HK$4.84; its Shenzhen shares  000002.SZ  climb 3.9% to 7.48 yuan
        ** The property developer is selling a 
    Shenzhen land plot
     at a reserve price of 2.24 bln yuan ($310 mln) via auction
in a bid to ease liquidity stress
  
    ** It is also in talks with state-owned investment company
Guangdong Holdings to sell its 21.4% stake in logistics firm
GLP, sources have said
    ** China's eastern city of Hangzhou said it will lift all
home purchase restrictions to meet the demand for improved
housing
    ** Rivals Hopson  0754.HK , Longfor  0960.HK , Greentown
China  3900.HK , Powerlong  1238.HK , Logan  3380.HK , Sunac
 1918.HK , Agile  3383.HK  China South City  1668.HK  and Shimao
 0813.HK  up between 3.3% and 42.2%
    ** CSI 300 Real Estate Index  .CSI000952  surges 3.7%, Hang
Seng Mainland Properties Index  .HSMPI  rises 3.1% and Hang Seng
Index  .HSI  adds 1.2%
    ** Vanke's Hong Kong-listed stock down 33.7% YTD, Shenzhen
shares down 28.5% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))