Shares of CK Asset Holdings Ltd. surged 6.73% on Tuesday, joining a broader rally in Hong Kong-listed property developers after China relaxed restrictions on home buying in major cities.
The move, which includes easing measures in Beijing, Shanghai, and Shenzhen, is aimed at boosting demand and propping up the struggling property market in China. The latest stimulus measures have fueled investor optimism, driving a surge in property stocks.
Among the biggest gainers, Yuexiu Property soared 17.9%, marking its highest level since late November. Other major developers, such as Longfor, China Resources Land, and China Overseas Land, also witnessed double-digit gains, leading the Hang Seng Mainland Properties Index to a 11.1% surge.
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