Feb
03

Chinese Developers Gain After Mortgage Down Payments Are Eased

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  • Shanghai property gauge advances to one-week high after cut
  • Analyst forecasts more loosening measures to follow the move

Chinese property shares surged in the domestic market after the central bank cut the minimum mortgage down payment to the lowest in history, prompting expectations of more easing measures.

The Shanghai Stock Exchange Property Index, which tracks 24 developers listed on the city’s exchange, rose as much as 1.2 percent to a one-week high, the only group to advance on the the benchmark Shanghai Composite Index, which dropped as much as 1.8 percent. Guangzhou-based Poly Real Estate Group Co. surged as much as 3.8 percent to the highest in almost a month. Greenland Holdings Corp., the third-biggest developer by sales value last year, traded as much as 4.2 percent higher at a two-week high…

Chinese Developers Gain After Mortgage Down Payments Are Eased

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