Country Garden jumps on report China to provide financing support

CIFI Holdings (Group)

23/11/2023 03:06

** Shares of Chinese property developer Country Garden 
 2007.HK  surge 15.3% to HK$0.98, highest since Sept. 26, their
third straight session of gains
    ** Stock set to mark biggest one-day pct rise since Sept. 6,
if gains hold; fourth biggest pct gainer in Hang Seng Composite
Index on properties and construction stocks  .HSCIPC 
    ** China has placed Country Garden on a draft list of 50
developers eligible for a range of financing support, Bloomberg
reported on Wednesday. Other distressed developers, such as
Sino-Ocean Group  3377.HK , CIFI  0884.HK  are also on the list 
    ** Stock of Sino-Ocean jumps 20%, CIFI soars 33.3%, Longfor
 0960.HK  up 7.9% 
    ** Meanwhile, Shenzhen adjusts the minimum down payment
ratio for personal housing loans for second homes to 40%
effective Nov. 23 to lower the financial threshold for residents
to buy second homes, Securities Times reported on Wednesday
    ** In China, CSI 300 Real Estate Index  .CSI000952  jumps
3.3%
    ** In Hong Kong, Hang Seng Mainland Properties Index
 .HSMPI  surges 3%, Hang Seng Composite Index on properties and
construction stocks  .HSCIPC  climbs 0.9% 

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