Cifi Holdings Leads Rally In Hk: listed Chinese developers on Q4 optimism

China Overseas Land & Investment

03/10/2022 03:16

** Shares of CIFI Holdings  0884.HK  lead a rally in Hong
Kong-listed Chinese property developers, surging 11.3% to
HK$0.89
    ** Stock to mark its biggest daily pct rise since Aug. 22 if
gains hold
    ** New home prices in China fell for the third straight
month in September as a mortgage boycott across the country and
a slowing economy discouraged potential home buyers, a survey by
China Index Academy (CIA) showed on Saturday  urn:newsml:reuters.com:*:nL1N312037
    ** In the fourth quarter, local governments can be expected
to further implement measures to shore up their respective
markets while continuing to guard against speculative purchases,
said Cao Jingjing, an analyst from CIA - one of China's largest
independent real estate research firms
    ** Shares of rivals Agile Group  3383.HK , Longfor
 0960.HK , Hopson Development  0754.HK , Country Garden
 2007.HK , KWG Group  1813.HK , China Vanke  2202.HK , Ronshine
China  3301.HK  and China Overseas Land  0688.HK  jump between
3.7% and 9.2%  
    ** Shares of Chinese property services firms jump, with
Country Garden Services  6098.HK , Sunac Services  1516.HK ,
Cifi Ever Sunshine Services  1995.HK  and  Shimao Services
 0873.HK  up between 5.4% and 12.8% 
    ** The Hang Seng Mainland Properties Index  .HSMPI  surges
as much as 6.3% - set to mark best day since Sept 9 if gains
hold
    ** The Hang Seng Composite Index on properties and
construction stocks  .HSCIPC  rises 2.1%, while the Hang Seng
Index  .HSI  slips 0.1%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))