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The recent comments by Yu Liang, Chairman of property developer China Vanke Co. Ltd, excited the market on Tuesday, triggering a strong rally in homebuilders' stocks.
Yu said at the company’s shareholder meeting on Tuesday that “the real estate market has hit a bottom, from a short-term perspective.” The relatively neutral comments about the struggling sector is rare for Yu, who has been viewed as one of the most pessimistic figures in the . . .
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