China Property Stocks Rally on Speculation of More Stimulus

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A key gauge of Chinese property stocks rallied to its highest level in about four weeks with market watchers pointing to speculative flows betting on more policy support for the struggling sector.

A Bloomberg Intelligence gauge tracking the Chinese builders gained as much as 7.8% to trade at the highest level in about four weeks. Sunac China Holdings Ltd. surged as much as 65%, while China Evergrande Group jumped as much as 36%.

“It’s some hedge funds speculating on more stimulus,” said Xin-Yao Ng, investment manager of Asian equities at Abrdn. “The distressed developers are definitely the speculators’ pick to bet on stimulus as they see the biggest delta to policy news.”

 

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