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.