SUNAC's stock surged 5.77% during intraday trading on Tuesday, reflecting a broader rally in mainland Chinese property stocks.
The movement was driven by positive sentiment in the property sector, fueled by a significant improvement in transaction volumes in key cities like Shanghai, where secondary home sales recently hit a five-year high. Analysts from Goldman Sachs suggest that property markets in Shanghai and Shenzhen may be bottoming out, with prices expected to rise in the coming years, while supportive policies are beginning to show cumulative effects, indicating the worst phase for the market could be over.
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