Stock Track | Chinese Property Stocks Soar on Report of Proposed Home Buying Curbs Relaxation

Stock Track09-20

Shares of Chinese property developers rallied on Thursday following a Bloomberg News report that regulators in China are working on a proposal to relax home buying restrictions for non-local buyers in major cities like Shanghai and Beijing.

The proposed measure, if implemented, could potentially boost demand and revive the sluggish real estate sector in China. Investors responded positively to the news, with stocks of property companies surging across the board.

Among the major gainers was MIDEA REAL EST, which soared by 9% in Hong Kong trading. Other prominent developers such as Longfor Group, China Vanke, and Sunac also witnessed significant gains, reflecting the market's optimism about the potential policy change.

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