Kaisa jumps on report chairman returns to Shenzhen to meet regulators

Kaisa group

19/06/2024 07:47

** Shares of Chinese developer Kaisa Group Holdings
 1638.HK  jump 11.5% to HK$0.145
    ** Stock on track for the biggest one-day pct gain since May
17, if trend holds
    ** Stock touches the highest since June 14, on course to
snap two straight sessions of decline
    ** The chairman of defaulted Kaisa returned to mainland
China from Hong Kong for the first time in almost a decade to
get regulatory approval for an offshore debt restructuring, two
sources familiar with the matter said 
    ** Hang Seng Mainland Properties Index  .HSMPI  rises 2.4%,
index tracking properties and construction stocks  .HSCIPC 
climbs 1.9% and Hang Seng Index  .HSI  jumps 2.6%
    ** Kaisa stock down 17.3% YTD  

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