China Overseas Land leads rise in HK mainland developers as home sales soar

China Overseas Land & Investment

03/04/2023 07:59

** China Overseas Land  0688.HK  leads rise in Hong
Kong-listed mainland property developers, jumps as much as 8.6%
to HK$20.60, highest since March 7; on course to snap two
consecutive sessions of decline
    ** Biggest pct gainer in Hang Seng Property Index  .HSNP 
and Hang Seng Composite Index  .HSCIPC ; second biggest gainer
in Hang Seng Index  .HSI  and Hang Seng China Enterprises Index
 .HSCE    
    ** China's new home sales rose sharply in March, as a slew
of support policies boosted pickup in demand across the board in
14 surveyed cities
    ** Sales of new homes rose 55.7% month-on-month, up from
31.9% in February, according to data from China Index Academy
    ** Poly Property  0119.HK  jumps 4.6%, China Resources Land
 1109.HK  rises 1.8% and Hopson Development  0754.HK  gains 1.4%
    ** China Vanke's Hong Kong stock  2202.HK  climbs 0.7% and
Shenzhen-listed shares add 1.1%    
    ** In China, real estate developers  .CSI000952  rise 2.4%
    ** In Hong Kong, Hang Seng Mainland Properties Index
 .HSMPI  gains 1.4% and Hang Seng Property Index  .HSNP  climbs
1.2%, while Hang Seng China Enterprises Index  .HSCE  eases 0.5%
and Hang Seng Index  .HSI  slips 0.2%
    

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