Tiger Brokers

BUZZ-Longfor leads rise in Chinese developers on report of China trimming mortgage rates

Reuters
Sep 13, 2024

** Longfor Group leads gains in Hong Kong-listed Chinese property developers, climbing 5% to HK$8.18

** Stock on course for the biggest one-day pct rise since July 12

** China is poised to cut interest rates on more than $5 trillion of outstanding mortgages as early as this month, Bloomberg News reported on Thursday, citing people familiar with the matter

** China Resources Land jumps 3.4%, Yuexiu Property rises 1.2% and China Overseas Land adds 1.1%

** Hang Seng Mainland Properties Index surges 2.2% and Hang Seng Index rises 1.1%

** In China, CSI 300 Real Estate Index climbs 0.7%, while the CSI 300 Index slips 0.02%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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