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Chinese Property Stocks Jump On Shenzhen Plan

ASIAN MARKETS

Chinese property stocks are outperforming the wider market today following news other cities may adopt Shenzhen's plan to purchase unsold homes after being the first tier 1 city to do so. Swire Properties also reported strong 1H results on Thursday, with equity rising over 10% which was also help by the company proposing HK$1.5b share buyback.

  • (BBG) Shenzhen to Acquire Unsold Properties for Affordable Housing - (see link)
  • Major property benchmarks are all higher today with the Mainland Property Index +3.10%, HS Property Index +2.60%, CSI 300 Real Estate Index +3.50% and the BBG China RE gauge jumping 4.5%
  • It should be noted that the benchmark indices are still well and truly lower this year with many trading at all time lows or close to.
  • Bonds for some of the major developers are flat to 1pt higher.
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Chinese property stocks are outperforming the wider market today following news other cities may adopt Shenzhen's plan to purchase unsold homes after being the first tier 1 city to do so. Swire Properties also reported strong 1H results on Thursday, with equity rising over 10% which was also help by the company proposing HK$1.5b share buyback.

  • (BBG) Shenzhen to Acquire Unsold Properties for Affordable Housing - (see link)
  • Major property benchmarks are all higher today with the Mainland Property Index +3.10%, HS Property Index +2.60%, CSI 300 Real Estate Index +3.50% and the BBG China RE gauge jumping 4.5%
  • It should be noted that the benchmark indices are still well and truly lower this year with many trading at all time lows or close to.
  • Bonds for some of the major developers are flat to 1pt higher.