Midea Real Estate hits over 6 months high on CCB cooperation deal

Midea Real Estate Holding

22/03/2022 08:07

** Shares of Midea Real Estate Holding Ltd  3990.HK  surge 
as much as 9.5% to HK$14.56, their highest since Sept. 7, and on
course to snap two straight sessions of decline
    ** Company says it has entered into strategic cooperation
agreements with Guangdong Province Branch of China Construction
Bank (CCB) to support development of affordable rental housing
projects  urn:newsml:reuters.com:*:nFWN2VO0X5
    ** Says the agreements are beneficial to the formulation of
an in-depth strategic cooperation with CCB, which would provide
sufficient funding support for the group's development in
related business 
    ** The Hang Seng Mainland Properties Index  .HSMPI  soars
4.3% and the Hang Seng Composite Index tracking properties and
construction stocks  .HSCIPC  rises 2.5%
    ** The Hang Seng China Enterprises Index  .HSCE  jumps 4%,
and the benchmark Hang Seng Index  .HSI  surges 3.1%


 (Reporting by Donny Kwok, Editing by Louise Heavens)
 ((donny.kwok@thomsonreuters.com))