Chinese property developers' shares surged after major cities relaxed home-buying restrictions, aiming to stabilize the housing market.
Shares of Chinese property developers soared on Monday after major cities relaxed home-buying restrictions, following a Politburo commitment to stabilize the housing market. The Hong Kong Hang Seng Mainland Properties Index surged over 10%, while the CSI 300 Real Estate index rose nearly 9%. Additionally, China's stock indices, including the Shanghai Composite and Shenzhen Component, saw significant gains, reflecting optimism for economic recovery. CLSA predicts the property market will bottom out by late 2025.
September 30, 2024
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