China's Midea Real Estate jumps most in 11 weeks as sales grow

Midea Real Estate Holding

01/03/2023 04:57

** Shares of Midea Real Estate Holding Ltd  3990.HK  jump as
much as 6.8% to HK$10.36, mark their biggest intraday pct rise
since Dec 16
    ** Stock hit the highest since Feb 21 and on course to snap
six straight sessions of losses 
    ** The Guangdong-based real estate developer says its
contracted sales for first two months of 2023 amounted to 15.02
bln yuan ($2.17 bln), up 5.6% from 14.22 bln yuan the same
period in 2022 
    ** The Hang Seng Mainland Properties Index  .HSMPI  surges
4.6% and the Hang Seng Composite Index on properties and
construction stocks  .HSCIPC  rises 2.7%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  jump 3.4% each

    ($1 = 6.9155 yuan)

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