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.
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