** Shares of Longfor lead rally in Hong Kong-listed Chinese property developers, soaring 25.5% to HK$11.52 and on track for the biggest one-day pct gain since July 2023, on report China vows to prop up housing market and boost economy
** Longfor stock hits the highest since July 15; top pct gainer in Hang Seng Mainland Properties Index , which jumps 13%
** Chinese leaders pledged on Thursday to push to hit the 2024 economic growth target and stop declines in the housing market, state media reported, citing a Politburo meeting
** The Politburo said necessary fiscal spending should be guaranteed and that the country would make good use of its special sovereign bonds and local government special bonds to support government investment, while policy also needed to stop falls in the property market
** Stock of China Resources Land soars 16.5%, China Overrseas Land jumps 13.1% and Yuexiu Property
up 12.6%
** In China, CSI 300 Real Estate Index jumps 9.3%
** In Hong Kong, Hang Seng Index rises 3.4% and Hang Seng Property Index surges 5.6%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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