Shares of most Hong Kong-listed Chinese property stocks surged to their highest levels in over a year, as China’s stimulus rally continues.
The real estate sector was the biggest gainer in the Hang Seng Index, with Longfor Group Holdings being the top mover, adding over 25%.
Shares of other real estate developers also saw significant gains. Defaulted developer Shimao Group skyrocketed over 97% while Kaisa Group jumped 45.48%, both notching their highest prices in more than a year.
Similarly, China Overseas Land & Investment climbed 14.33% to hit its highest since last September. China Vanke rose 45.5%.
Hang Lung Properties and China Resources Land gained 12.65% and 7.68% respectively.
The wider Hang Seng Index added 5.46%, while the Hang Seng Mainland Properties Index surged over 11.69%. Mainland Chinese markets are closed for the Golden Week holiday.
Over the weekend, major cities in mainland China introduced easing measures to enhance homebuyer confidence, following a series of policy …