China Property Stocks, Bonds Rally on Reported State Fund Help

(Bloomberg) — Chinese property stocks and dollar bonds rallied Monday, as a reported move by Beijing to establish a fund to support developers fueled optimism about a turnaround for the struggling sector.

A Bloomberg Intelligence index of the country’s real estate firms jumped as much as 3.4%, the most in a week. China’s high-yield dollar notes, predominately issued by developers, rose at least 1 cent on the dollar, according to credit traders, with a Bloomberg gauge tracking the sector set to gain for a fourth consecutive session.