Shares of KE Holdings Inc., a leading Chinese property platform operator, surged 8.33% on Wednesday, September 19th, amid growing optimism surrounding the potential relaxation of homebuying restrictions in major cities across China.
According to a Bloomberg News report, Chinese regulators are working on a proposal that would allow mega cities such as Shanghai and Beijing to ease curbs on non-local home buyers. This development fueled a rally in the stocks of Chinese property developers, including KE Holdings.
KE Holdings, which operates a popular online platform for housing transactions, saw its Hong Kong-listed shares jump 5.7%, while its U.S.-listed stock soared 8.4% on Thursday, reflecting the positive market sentiment. Other property developers, such as Longfor Group, Sunac, and Midea Real Estate, also experienced significant gains, driven by the potential policy shift.
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