China Property Stocks Gauge Jumps on Proposal for Home Purchases

-- The shares of Chinese developers jumped on optimism that Beijing will provide policy support for the purchase of unsold homes from distressed builders.US Inflation Ebbs for First Time in Six Months in Relief for FedA Bloomberg gauge of Chinese real estate stocks rose as much as 10.7% to the highest level since December 2023. Longfor Group Holdings Ltd. advanced as much as 15% in Hong Kong, and China Vanke Co. gained 16%.

New-home prices in 70 cities, excluding state-subsidized housing, fell 2.7% in March from a year earlier. The value of new-home sales from the 100 biggest real estate companies slid about 45% from a year earlier to 312.2 billion yuan , following a 46% decline in March, according to preliminary data from China Real Estate Information Corp.

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