- Authorities cut minimum down-payment ratio for homebuyers
- Bloomberg gauge of Chinese real estate stocks rises 9.9%
Shares of Chinese property developers extended a rally after Beijing announced forceful measures to shore up the beleaguered property market.
A Bloomberg Intelligence gauge of Chinese real estate stocks surged as much as 9.9% following the mid-Friday announcement. The index has risen more than 20% this week, the most since November 2022. Longfor Group Holdings Ltd. shares closed 11% higher in Hong Kong, while