Chinese property developers surge on prospects of further policy easing

China Aoyuan

30/03/2022 07:44

** Chinese real-estate developers surge on bets of more
easing measures in the cash-strapped sector
    ** China's CSI 300 Real Estate Index  .CSI000952  and Hong
Kong's Hang Seng Mainland Properties Index  .HSMPI  rise more
than 6% each
    ** Shares in Sunac China Holdings  1918.HK , China Aoyuan
Group  3883.HK  and Shimao Group  0813.HK  jump between 18% and
25%
    ** "Most of bad news for corporates including developers who
are unable to issue their audited report for FY21 or suspension
for trading due to their liquidity issue are well known," said
CGS-CIMB Securities analysts 
    ** "Local media reported that Shenzhen will relax price
restriction for developers project selling prices ... it signals
that as the city with strictest housing policy in China,
Shenzhen is also under huge pressure to loosen policy," the
analysts said 
    ** "We expect to see more local cities to follow."

    

 (Shanghai Newsroom)
 ((Jason.Xue@thomsonreuters.com))