Related News
Property developers lift shares
Print Edition
SHANGHAI stocks edged up yesterday as real estate developers surged on optimism the government will roll out measures to cut property inventory.
The Shanghai Composite Index added 0.07 percent to 3,472 points.
Property developers cheered as hopes were running high that destocking the property market will likely be one of the main topics for discussion at the upcoming Central Economic Working Conference, which sets economic targets for the coming year.
China Business News cited an unnamed source as saying that measures, including turning commercial housing into affordable homes, are set to roll out next year to trim unsold inventories.
Poly Real Estate Group Co jumped 4.4 percent to 11.19 yuan (US$1.75) while Wolong Real Estate Group Co soared 8.9 percent to 9.71 yuan.
China Vanke Co, the country’s biggest listed developer, leapt by the daily limit of 10 percent after it said yesterday that Anbang Insurance Group had been buying its shares in the secondary market, and now owns 5 percent of the firm as of Monday.
Sentiment was also dented after inflation data yesterday showed China is still dogged by deflation risks.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
