Shares of Chinese companies listed on the Singapore Exchange soared, thanks to a huge stimulus package from Beijing, according to a report by the Straits Times on Thursday.

Stock prices of Chinese real estate firm Yanlord Land (SGX:Z25) surged 57% in the past week while solar energy company Sunpower Group (SGX:5GD) was up 38%, the report said.

Similarly, shares of Sasseur REIT (SGX:CRPU), China Aviation Oil (SGX:G92) and Jiutian Chemical (SGX:C8R) also surged according to the report.

The surge in stock prices came after the Chinese government introduced a stimulus package aimed at improving its struggling property sector, weak exports and lack of domestic demand, the report said.

The package includes increased spending on infrastructure, more support for real estate sector, tax cuts and subsidies, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)