HK-listed Chinese property developers rise on China's stimulus measures

China Overseas Land & Investment

24/09/2024 04:00

** Hong Kong-listed Chinese property developers jumps after
China unveiled a slate of stimulus measures to spur sluggish
economic growth
    ** China's central bank will cut reserve requirement ratio
by 50 bps, reducing key interest rates further, and slash
existing mortgages rates by 0.5 percentage point
    ** Hang Seng Mainland Properties Index  .HSMPI  up 1.9%,
Hang Seng Property Index  .HSNP  jumps 1.4%, Hang Seng Index
 .HIS  rises 1.7%
    ** Hong Kong shares of housing transaction platform operator
KE Holdings  2423.HK  surge 5.6%, China Overseas Land  0688.HK 
jumps 3%, Longfor  0960.HK  gains 1.8%
    ** China Resources Land  1109.HK  climbs 1.4%, Sunac
 1918.HK  jumps 2.9% and Midea Real Estate  3990.HK  up 2.6%

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