The Hang Seng China Enterprises Index gained as much as 3.6%, with property names Longfor Group Holdings Ltd. and China Resources Land Ltd. leading the advance. A Bloomberg Intelligence gauge of developer shares surged more than 8%. The CSI 300 Index of onshore China shares rose 1.7% to add to its gains Friday, when Hong Kong’s stock market was shut due to a typhoon.
“We believe this will trigger a short-term rebound in sales among all tier-1 cities, as this unlocks some previously suppressed upgrade demand,” JPMorgan Chase & Co. analysts including Karl Chan wrote in a note. While momentum can cool afterwards, “this easing can still at least stabilize sentiment, which is an essential first step in avoiding further deterioration,” they said.
Chinese builders’ dollar bonds rose at least 2 cents Monday, according to credit traders. As of 10:29 a.m., Dalian Wanda Group Co. unit’s 7.25% note due 2024 rose 5.9 cents to 68.2 cents Monday after gaining 14 cents last week, according to Bloomberg-compiled data.
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Chinese Stocks in Hong Kong Jump After More Property EasingChinese stocks listed in Hong Kong advanced on Monday after the nation rolled out further property support measures including lower down payments for homebuyers and looser mortgage rules at major cities.
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Sputtering Europe and Jittery China Add Bull Case for US StocksEurope’s stagflation crisis and a property downturn in China are flashing a familiar message: for equity investors, there is no real alternative to the US stock market.
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