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LONGFOR GROUP/ COUNTRY GARDEN Rally 4%/ 6% as Shanghai to Ease Housing Purchase Restrictions from Tmr
Recommend 23 Positive 43 Negative 12 |
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Chinese developer stocks were heading north today. COUNTRY GARDEN (02007.HK) announced that it had paid around USD398 million in cash to creditors, representing 2% of the principal amount of restructured debt. The Shanghai Municipal Housing and Urban-Rural Development Management Committee and four other departments jointly issued a notice to further ease housing purchase restrictions, effective from tomorrow (26th). Specifically, the loan ceiling for housing provident funds will be moderately increased to RMB2.4 million. LONGFOR GROUP (00960.HK) once surged 6% to a peak of HKD10.38. It last traded at HKD10.2, up 4.2%, with a turnover of HKD155 million. COUNTRY GARDEN last printed at HKD0.33, up 6.5%, with a turnover of HKD170 million. SUNAC (01918.HK) climbed 4%. YUEXIU PROPERTY (00123.HK) advanced 3.1%. CHINA JINMAO (00817.HK) inclined 2.5%. CHINA RES LAND (01109.HK) shot up 2.6%. AAStocks Financial News |
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