HK-listed China property shares jump to over 1-week high

Yuzhou group Co

20/06/2022 04:55

** Shares in Chinese property shares  .HSMPI  listed in Hong
Kong rally as much as 6%, the highest since June 10
    ** Zhenro Properties  6158.HK  jumps 20%, while Yuzhou Group
  1628.HK  and Zhongliang Holdings  2772.HK  both surge 15% 
    ** Major developers Country Garden  2007.HK  and Greentown
China  3900.HK  rise over 8%
    ** Nomura cited data from Wind that property sales across 30
cities recovered quickly last week, with four top tier cities
recording 20-30% volumes higher than a year ago, and second-tier
cities 30% on average.
    ** Some money is chasing deep value stocks, CGS-CIMB
Securities head of China research Raymond Cheng says in a note
    ** Chinese property management shares also jump, with
Country Garden Services  6098.HK  and Sunac Services  1516.HK 
up over 11%
    ** Hang Seng Index  .HSI  rises 0.2%

 ((clare.jim@tr.com))