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Investing.com-- Chinese property stocks jumped on Thursday after a Bloomberg report said Beijing is considering a new round of stimulus to stabilise the country’s beleaguered housing market.
The report said policymakers are weighing nationwide mortgage subsidies for first-time homebuyers, higher income-tax rebates for mortgage borrowers, and lower home-transaction costs, citing people familiar with the matter.
The prospect of additional support set off broad gains across major developers.
Hong Kong-listed Sunac China (HK:1918) surged 11%, while China Vanke (HK:2202) shares jumped 6% on Thursday.
Country Garden (HK:2007) climbed over 5%, and Evergrande Property Services Group (HK:6666) gained more than 2%.
China Overseas (HK:0688) advanced 3.5%, and Longfor Group (HK:0960) gained 4%.
The measures, if finalised, would mark Beijing’s latest effort to put a floor under a prolonged property downturn that has eroded household wealth, undermined consumption, and strained banks’ balance sheets.
Bloomberg reported that the plan has been under discussion since the third quarter, with timing and final policy design still uncertain.