Chinese property developers rise on Zhengzhou municipal policy easing

CMBC Capital Holdings

02/03/2022 03:00

** Chinese developers  .CSI000952  rise as much as 2.6% on
marginal easing policy in a central capital city and
expectations of more relaxing measures
    ** The subindex, however, erased gains and traded 0.3% down
as of 0259 GMT
    ** Shares in Seazen Holdings  601155.SS , Poly Development
and Holdings Group  600048.SS , China Merchants Shekou
Industrial Zone  001979.SZ  up between 0.5% and 1.5%
    ** On Tuesday, Zhengzhou, the capital city of central
China's Henan province, lowered down-payment policy for families
who have bought one house but have paid off the mortgage  urn:newsml:reuters.com:*:nL4S2V504L
    ** Analysts from Ping An Securities said it means
down-payment ratio for those families will be reduced from 60%
to 30% 
    ** Ping An analysts also said regions or cities facing
relatively large stress in the property sector would potentially
follow suit 
    ** China's property market gained strength in recent weeks
after a deep downturn last year as authorities began easing
regulations, including allowing smaller down payments, lowering
mortgage rates and cutting the deed tax  urn:newsml:reuters.com:*:nL1N2UX0G9


 (Shanghai Newsroom)
 ((Jason.Xue@thomsonreuters.com))