Singapore Exchange quoted Yanlord Land’s stock price has surged 57 per cent over the past week, while solar energy player Sunpower Group is up 38 per cent.
Others like Sasseur Reit, China Aviation Oil, propertry developer Ying Li International, and even chemical producer Jiutian Chemical have also popped.Key elements of the package included monetary easing by the Peoples’ Bank of China, increased infrastructure spending, support for the real estate sector via re-lending programmes, cuts in taxes and subsidies to boost domestic consumption, and easing of restrictions on foreign investments.
“Right now, we think the market is also participating in the potential upside from stimulus through Singapore, given China is closed for Golden Week,” he pointed out. In Singapore, the FTSE ST China Index is up about 10 per cent over the past five trading sessions, outpacing most regional markets and Singapore sectors.
“It will be a gradual improvement in consumption through a wealth effect. This is similar to the Fed’s quantitative easing objective. Only a bump in fiscal spending can reverse the economy in the short term.” Yanlord Land, despite surging almost 60 per cent in recent days to just below 70 cents, is considered a quality China property play with a net asset value of $3.24 per share and cash at $1.00 per share.
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