Chinese online property platform Ke Holdings trade higher on improving second-hand home sales in major cities

 

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KE Holdings Inc. (Beike), Chinese online property platform, trade higher on Wednesday on improving second-hand home transactions in major Chinese cities, surging by as much as 7% in Hong Kong before paring gains to 3.4% at the end of the morning session.

The index for second-hand home transaction volume in China’s 50 major cities rose to 40 in July, according to the Beike Research Institute, with more notable growth seen in five cities including Donggan, Langfang, Beijing, Shanghai and Tianjin.

The index was higher than 39 in the same period last year, marking the first year-on-year rise since May 2021, according to Beike. In particular, the index for more than 60% of the cities, including Ningbo, Taiyuan, Nanjing and Suzhou, exceeded the year-ago level. Read more …