Chinese property developer in sharp rally on expectation of more policy easing

 

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Chinese property developers stage a strong rally in Hong Kong, with Logan Group surging nearly 16%, KWG Group up 15%, Seazen up 13%, Longfor Group up 12.5%, Sunac China up 10%.

China is reported to be working on a new basket of measures to support the property market after existing policies failed to sustain a rebound in the ailing sector, reported Bloomberg.

Regulators are considering cutting the down payment in some non-core neighbourhoods of major cities, lowering agent commissions on transactions and further relaxing restrictions for residential purchases, per the report. 

The government may also refind and extend some policies laid out in the 16-point rescue package rolled out last year, the report said.