Shares of Chinese property developers rally on report of government plans to buy unsold homes

Shares of Chinese property developers rallied on Thursday after a report that China was considering a plan for local governments across the country to buy millions of unsold homes from distressed companies to ease a protracted property crisis.
Hong Kong’s Hang Seng Mainland Properties Index closed up 4.9 per cent to the highest since Nov 24. The sub-index has gained around 30…

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