China property stocks rally on homes mortgage stimulus [CNBC]
CHINA RES LAND UNSP/ADR (CRBJY)
NASDAQ:AMEX Investor Relations:
en.crland.com.hk/investorrelations/investorservices
Company Research
Source: CNBC
average of 0.5 percentage points, and the lower down-payment ratio for second homes purchases to 15% from 25%. Hang Seng Mainland Properties Index surged as much as 5% when Hong Kong markets opened shortly after the announcement was made. Hong Kong-listed shares of real estate developers like China Resources Land, Longfor Group Holdings and China Overseas Land & Investment were some of the biggest movers, gaining as much as 2.84%, 3.31% and 4.22%, respectively. Chinese property stocks rallied on Tuesday after top financial regulators vowed a range of monetary easing measures to provide some relief for millions of families and boost a recovery in the real estate market. During a high-level press conference Tuesday morning, People's Bank of China Gov. Pan Gongsheng announced that Beijing would reduce the interest rates on existing individual mortgages by an average of 0.5 percentage points, and the lower down-payment ratio for second homes purchases to 15% from 25%. It's the f
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