Top gainers included Country Garden and Shimao Group Holdings, whose shares rose more than 30%
[HONG KONG] Chinese property shares surged in Hong Kong, led by Country Garden Holdings as analysts pointed to a mix of policy signals and new lending rules as key drivers of the rally.
A gauge of developer stocks jumped as much as 5.1 per cent, the biggest one-day gain in nearly two months. Top gainers included Country Garden and Shimao Group Holdings, whose shares rose more than 30 per cent.
The sector’s surge followed gains from the previous day, after Shenzhen joined Beijing and Shanghai in easing home-buying rules to address the property crisis. That momentum may have carried into Tuesday, although fresh catalysts weren’t immediately apparent.
“Following the home purchase relaxation and mortgage loan easing in three tier-1 cities, the market is speculating this would boost new home sales in these cities in the coming months,”…
