Country Garden leads Chinese property firms higher on cenbank support report

China Overseas Land & Investment

25/11/2022 08:50

** Shares of Country Garden  2007.HK  lead rally in Chinese
property developers, rising as much as 10.2% to HK$3.12, their
highest since Nov 16
    ** Stock is the biggest pct gainer in Hang Seng Index  .HSI 
and Hang Seng property sub-index  .HSNP 
    ** China's central bank will offer cheap loans to financial
firms for buying bonds issued by property developers, four
people with direct knowledge of the matter said, the strongest
policy support yet for the crisis-hit sector  urn:newsml:reuters.com:*:nL8N32J1EW
    ** The People's Bank of China is also drafting a "white
list" of good-quality and systemically important developers that
would receive wider support from Beijing to improve their
balance sheets, two of the sources said
    ** Stock of Longfor Group  0960.HK , Hopson Development
 0754.HK , China Overseas Land  0688.HK , China Resources Land
 1109.HK , China Vanke  2202.HK , CIFI Holdings  0884.HK  and
Greentown China  3900.HK  rise between 2.1% and 8.4%
    ** Hang Seng Mainland Properties Index  .HSMPI  jumps as
much as 4.7% and the Hang Seng Composite Index tracking
properties and construction stocks  .HSCIPC  surges as much as
2.4%
    ** The Hang Seng Composite Index  .HSCI  gains 0.6% and the
Hang Seng Index  .HSI  climbs 0.5%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))