: Chinese property stocks rally on reports of government bond issue

by | Aug 16, 2022 | Stock Market

Chinese property stocks surged in Hong Kong on Tuesday after reports that the government could shore up support for some developers’ bonds. Chinese regulators have reportedly ordered state-owned China Bond Insurance Co. Ltd to guarantee onshore bond issuances to a number of developers in the struggling sector, according to Reuters.

Stock prices in the named shortlist bounced up in response to the news, with Hong-Kong-listed shares in property developer Country Garden Holdings
up as much as 18% to 2.74 Hong Kong dollars early in the trading day and pared its gains later on Tuesday to a 9% rise Shares of Gemdale Properties
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