Yuexiu leads rally in property developers on China stimulus, easier home purchase rules

China Overseas Land & Investment

02/10/2024 04:32

** Shares of Yuexiu Property  0123.HK  surge 17.9% to
HK$7.50, their highest since Nov. 29, leading gains among
HK-listed Chinese property developers
    ** Stock eyes fourth straight session of gains; third
biggest pct gainer in Hang Seng Mainland Properties Index
 .HSMPI , which is up 11.1%
    ** Beijing relaxed restrictions on home buying on Monday,
following similar moves by Shanghai and Shenzhen, in a bid to
boost demand and prop up struggling property market
    ** Property stocks extend their rally as investors cheer
easier home purchase rules and Beijing's latest stimulus
    ** Shares of Longfor  0960.HK  jump 17%, China Resources
Land  1109.HK  surges 11.3%, China Overseas Land  0688.HK  rises
9.8%, China Overseas Property  2669.HK  gains 9.4%
    ** Henderson Land  0012.HK  jumps 9.1%, CK Asset  1113.HK 
surges 5.4%, SHKP  0016.HK  rises 4.5%, Wharf Holdings  0004.HK 
gains 1.1% and New World Development  0017.HK  adds 0.5%
    ** Hang Seng Property Index  .HSNP  jumps 6.5% and Hang Seng
Index  .HSI  rises 5.3%


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