Chinese Property Stocks Soar On Hopes Of Turning Point For Industry
The Hang Seng Mainland Properties index rose as much as 16.3% in Monday’s morning session. Hong Kong-listed Country Garden, one of China’s biggest developers, gained more than 36%. The benchmark Shanghai Composite Index rose 0.8 percent, while the Hang Seng gained 3.3 percent. The measures, outlined in a policy paper by the central bank and the banking regulator, include extending a deadline to the end of the year for lenders to limit the ratio of loans to the property sector, one of Beijing’s strongest moves to ease from the pressure from the credit crisis....