Chinese Developers Rally on Policy Hopes as Evergrande Again Averts Default

Stocks and bonds of Chinese developers jumped on signs that Beijing could moderate its tough stance on the beaten-down property sector, while sector heavyweight China Evergrande Group again averted default by making another set of last-minute bond payments.

By midafternoon Thursday in Hong Kong, the Hang Seng Mainland Properties index had gained 5.6%, building on a rally in the previous session. Some real-estate stocks surged more, with China Aoyuan Group Ltd. gaining 10% and China Vanke Co. jumping 7%.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top