Caixin
Dec 09, 2022 05:02 PM
BUSINESS

With More Property Easing in Sight, Chinese Developer Shares Rally

An electronic ticker displays stock figures on an elevated walkway in Pudong's Lujiazui Financial District in Shanghai on Dec. 7. Photo: Bloomberg
An electronic ticker displays stock figures on an elevated walkway in Pudong's Lujiazui Financial District in Shanghai on Dec. 7. Photo: Bloomberg

(Bloomberg) — Chinese property shares rallied on expectations that authorities may add support for the ailing property sector at a key economic meeting next week. 

A Bloomberg gauge of the sector gained 4.5% as of 10:18 a.m. in Hong Kong, with KWG Group Holdings Ltd. and Logan Group Co. Ltd. surging more than 12% each. Meanwhile, the broader market was largely flat, with the Hang Seng China Enterprises Index erasing most of its earlier 1.5% gain. 

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