Shares of China Overseas Property (02669) surged 11.31% on Tuesday, riding a broader rally in Chinese property stocks following the government's move to relax restrictions on home buying in major cities like Beijing, Shanghai and Shenzhen.
The easing of home purchase rules, aimed at boosting demand and propping up the struggling property market, has fueled investor optimism in the sector. Beijing's latest stimulus measures have also provided a boost to property developers.
The rally was led by Yuexiu Property, which saw its shares jump 17.9%, while other major developers such as Longfor, China Resources Land, and China Overseas Land also witnessed significant gains.
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