Property Stocks Surge; NEV Expects Proceeds: Evergrande Update
A banner promoting the Emerald Bay residential project outside the China Evergrande Centre in Hong Kong.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Chinese property stocks posted sudden gains on Friday in Hong Kong, sending an industry gauge up by the most in a week amid investor hopes for more policy easing.
A Bloomberg index of real estate firms listed in Hong Kong and mainland China climbed as much as 4.7%, partly fueled by an 8.3% surge in China Evergrande Group. The company will be removed from the Hang Seng China Enterprises Index next month.