Stock Track | Midea Real Estate Soars 5.52% on China's Property Market Stimulus

Stock Track09-24

Shares of Midea Real Estate surged 5.52% on Monday, outperforming the broader Hong Kong market, after China unveiled a series of measures to prop up the sluggish property sector and spur economic growth.

The Chinese central bank announced it will cut the reserve requirement ratio for banks by 50 basis points, further reduce key interest rates, and slash existing mortgage rates by 0.5 percentage points. These moves are aimed at boosting liquidity and making it cheaper for homebuyers to obtain mortgages.

The stimulus package is expected to provide much-needed relief to Chinese property developers like Midea Real Estate, which have been grappling with weak demand and tight financing conditions in recent years. With lower borrowing costs and increased affordability for homebuyers, the measures could help revive sales and improve cash flow for real estate companies.

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