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04

Chinese ADRs Post Best Week Since 2011 as Real Estate Sites Soar

By Tony Seruga

SouFun, Leju advance most on reduced down-payment requirements
Bitauto, Autohome rally as tax on small car purchases lowered

Chinese stocks trading in New York posted their biggest weekly rally since late 2011, led by real estate websites after the central bank reduced down-payment requirements for first-time home buyers in a bid to bolster the industry.

The Bloomberg China-US Equity Index jumped 8.2 percent to 104.18 in the five days through Friday. American depositary receipts of SouFun Holdings Ltd., the country’s biggest real-estate information website, was the best performer, surging 29 percent to $7.24. Leju Holdings Ltd. posted the second-biggest gain, rallying 28 percent to $6.15. The Deutsche X-trackers Harvest CSI 300 China A-Shares ETF advanced 4.8 percent to $33.40 in a second consecutive weekly gain…

Chinese ADRs Post Best Week Since 2011 as Real Estate Sites Soar

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