BUZZ-Country Garden jumps on report China to provide financing support

Reuters2023-11-23

** Shares of Chinese property developer Country Garden

surge 15.3% to HK$0.98, highest since Sept. 26, their third straight session of gains

** Stock set to mark biggest one-day pct rise since Sept. 6, if gains hold; fourth biggest pct gainer in Hang Seng Composite Index on properties and construction stocks

** China has placed Country Garden on a draft list of 50 developers eligible for a range of financing support, Bloomberg reported on Wednesday. Other distressed developers, such as Sino-Ocean Group , CIFI are also on the list

** Stock of Sino-Ocean jumps 20%, CIFI soars 33.3%, Longfor

up 7.9%

** Meanwhile, Shenzhen adjusts the minimum down payment ratio for personal housing loans for second homes to 40% effective Nov. 23 to lower the financial threshold for residents to buy second homes, Securities Times reported on Wednesday

** In China, CSI 300 Real Estate Index jumps 3.3%

** In Hong Kong, Hang Seng Mainland Properties Index

surges 3%, Hang Seng Composite Index on properties and construction stocks climbs 0.9%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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