Chinese property developers stage strong rally on latest policy support

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In Hong Kong, Logan Group surging more than 10.9% as of 9:55 am local time, CIFI Holdings up 6.3%, Powerlong up 6.2%, KWG Group up 4.8%, Seazen up 5.2%.

China will allow cities where home prices posted steep declines in three consecutive months to lower home mortgage rates, extending a temporary policy announced in September as the housing market remained sluggish.