SUNAC's stock surged 12.90% during Wednesday's intraday trading session, outperforming the broader market. The rally was part of a sector-wide uptick in Chinese property stocks.
The surge was driven by positive sentiment in the property sector after China Vanke Co. held a creditor meeting to discuss a bond extension plan aimed at avoiding default. SUNAC, along with peers like Ronshine China and China Jinmao, benefited from the improved market confidence in the sector.
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