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Chinese property developers outperformed in the A-share market on Friday amid growing expectations that the authority will introduced more detailed supportive policy for the struggling sector after the liquidity stress at the country’s top private homebuilder Country Garden.
An index tracking the real estate sector compiled by Wind Information gained as much as more than 1% on the day before closing the day 0.52% higher, compared to more than 2% loss for the benchmark Shanghai Composite Index and making it one of the best-performing sectors in the A-share market.
The China Securities Regulatory Commission (CSRC) is reported to hold an online meeting about the real estate market on Friday, with some property developers and financial institutions invited to the meeting.
The authorities are expected to introduce detailed real estate policy easing measures later this month after the top leadership called for efforts to support the housing market, according to a report by state-run news media Securities Times on Friday.
The four tier-one cities’ plans for real estate policy easing have been submitted to the central government and the measures will be announced gradually from mid-August to early September, according to the report.
