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<CN Home>CN Reportedly Mulling New Round of Real Estate Boosters; SUNAC Surges 10%
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China is weighing new initiatives to reverse the downturn in the real estate market, Bloomberg, citing people with the knowledge of the matter, reported. The measures under discussion include providing mortgage subsidies to homebuyers in Mainland China, increasing income tax deductions for mortgage holders, and reducing transaction costs. These measures have been under discussion since at least the third quarter, as sales and prices in China's real estate market drift lower, sources divulged. However, the specific implementation timeline for these measures is yet to be set in stone. Buoyed by the news, HK-listed Chinese property developers executed well. SUNAC (01918.HK) last printed at HKD1.47, up 10.53%, with trading volume of 356 million shares, amounting to HKD510 million. CHINA RES LAND (01109.HK) last posted at HKD30.88, up 5.32%. LONGFOR GROUP (00960.HK) last stood at HKD10.1, up 3.48%. CHINA VANKE (02202.HK) last traded at HKD4.31, up 6.16%. CHINA OVERSEAS (00688.HK) last logged at HKD13.84, up 3.36%. COUNTRY GARDEN (02007.HK) last recorded at HKD0.52, up 7.22%. GREENTOWN CHINA (03900.HK) was last at HKD9.24, up 3.94%. AASTOCKS Financial News Website: www.aastocks.com |
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