China Overseas Land leads gain in mainland developers as new home prices rise

China Overseas Land & Investment

16/02/2023 06:45

** Shares of China Overseas Land  0688.HK  lead rise in
mainland property developers, rising as much as 5.1% to HK$20.10
    ** On track for the biggest daily pct rise since Jan. 4 if
gains hold
    ** China's new home prices rose in Jan for the first time in
a year, official data showed on Thursday, as the end of the
zero-COVID regime, favourable property policies and market
expectations for more stimulus measures boosted demand 
    ** New home prices in Jan were up 0.1% month-on-month,
versus a 0.2% slide in Dec
    ** Stock of China Resources Land  1109.HK , Country Garden
 2007.HK , Longfor Group  0960.HK , CIFI Holdings  0884.HK  rise
between 1.5% and 4.9% 
    ** KWG Group  1813.HK , Greentown China  3900.HK , Powerlong
 1238.HK  and China Vanke  2202.HK  climb between 1% and 4.6%
    ** The Hang Seng Property Index  .HSNP  rises 1.4%, Hang
Seng Mainland Properties Index  .HSMPI  surges 2.7% 
    ** The Hang Seng Composite Index  .HSCI  gains 1.1% and the
Hang Seng Index  .HSI  climbs 1.2%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))