Longfor leads rise in Chinese developers on report of China trimming mortgage rates

China Overseas Land & Investment

13/09/2024 04:26

** Longfor Group  0960.HK  leads gains in Hong Kong-listed
Chinese property developers, climbing 5% to HK$8.18
    ** Stock on course for the biggest one-day pct rise since
July 12
    ** China is poised to cut interest rates on more than $5
trillion of outstanding mortgages as early as this month,
Bloomberg News reported on Thursday, citing people familiar with
the matter
    ** China Resources Land  1109.HK  jumps 3.4%, Yuexiu
Property  0123.HK  rises 1.2% and China Overseas Land  0688.HK 
adds 1.1%
    ** Hang Seng Mainland Properties Index  .HSMPI  surges 2.2%
and Hang Seng Index  .HSI  rises 1.1%
    ** In China, CSI 300 Real Estate Index  .CSI000952  climbs
0.7%, while the CSI 300 Index  .CSI300  slips 0.02%

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