BUZZ-China Vanke Hong Kong shares hit 2-1/2 months high on rescue package report

Reuters10:03
BUZZ-<a href="https://laohu8.com/S/CHVKF">China Vanke</a> Hong Kong shares hit 2-1/2 months high on rescue package report

** China Vanke's Hong Kong shares 2202.HK jump 8.1% to HK$4.14, highest level since Nov 26

** Set for biggest one-day rise since Dec 10

** Top gainer on Hang Seng Composite Index tracking properties and construction stocks .HSCIPC, which is up 0.1%

** Shenzhen-listed stock 000002.SZ climbs 3.5% to 5.06 yuan, highest since Feb 9

** Shenzhen municipal government drafting 80 bln yuan ($11.6 bln) rescue package for state-backed developer, Octus reported

** Vanke estimated 2025 net loss at about 82 bln yuan in late January

** Co did not respond to Reuters' request for comment; Shenzhen government could not be reached for comment

** HK stock up 22% YTD vs Shenzhen shares' 6% gain

($1 = 6.9010 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment