Country Garden leads gains in mainland property developers on support policy

KWG group

11/07/2023 03:02

** Country Garden  2007.HK  leads gains in mainland property
developers, rising as much as 6.7% to HK$1.59, on course for the
biggest one-day gain since June 27
    ** Stock is the biggest pct gainer in Hang Seng Index  .HSI 
and in Hang Seng Property firms  .HSNP 
    ** China's central bank on Monday extended until end 2024
some policies in a Nov rescue package to shore up the real
estate sector, with current supports failing to gain traction
and markets expecting more stimulus soon
    ** Shares of Longfor Group  0960.HK  rises 2.8%, China
Overseas Land  0688.HK  climbs 1.1% and China Resources Land
 1109.HK  gains 0.2% 
    ** Smaller rivals KWG Group  1813.HK , Logan Group
 3380.HK , Redsun Properties  1996.HK , R&F Properties  2777.HK 
and Agile Group  3383.HK  rise between 3.4% and 7.2%  
    ** The Hang Seng Property Index  .HSNP  rises 1%, the Hang
Seng Mainland Properties Index  .HSMPI  surges 1.9% and the Hang
Seng Index  .HSI  climbs 0.8%

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