Shares in Chinese property firms soared after the country’s top leaders pledged to ramp up support for the economy
, both listed in Hong Kong, rebounded 18% and 26.5%, respectively - more than offsetting Monday's sharp declines.
Country Garden disputed a Debtwire report saying that it had engaged accountancy firm KPMG to perform due diligence on its assets and liabilities after it came under liquidity pressure. The company said this was not true but declined to give further details.to ramp up policy support for the economy amid a torturous post-COVID recovery, with a focus on boosting domestic demand.
While few details of the support measures were provided, investors cheered a change in tone, which they thought could mean more property stabilisation steps were imminent.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese stocks pop as Beijing vows more measures to boost weak economyChinese stocks soared Tuesday morning as Beijing pledged measures to bolster China's sputtering economy.
Read more »
China's property firms rally after Beijing pledges economic support By Reuters*CHINA PLEDGES ECONOMIC STIMULUS SUPPORT AS BEIJING VOWS TO BOOST THE ECONOMY 🇨🇳🇨🇳
Read more »
Analysis: China's pitch to foreign investors falls flat as incentives dwindleChina is struggling to revive foreign investment in its financially battered cities and provinces as foreign firms remain wary of political risks and new incentives fall far short of sweeteners once used to attract overseas money.
Read more »
China's property shares rally after Beijing pledges economic supportShares of China's property developers surged on Tuesday following a sharp selloff in the previous session, after policymakers said they would step up support for the embattled sector.
Read more »
China's economy: Investors eye key politburo meeting as growth faltersInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »