Property leads China rally

March 30, 2015 8:16 AM (UTC+8)

 

Asia Unhedged observed March 26 that central banks would in effect target the property market as the fastest way to get returns from quantitative easing. As Bloomberg reports this morning, “Chinese stocks trading in Hong Kong rallied the most this year after authorities allowed more mainland funds to use the city’s exchange link. Developers in Shanghai soared on speculation the government will ease property curbs. Industrial Bank Co. and Industrial & Commercial Bank of China Ltd. surged more than 3 percent in Shanghai after People’s Bank of China Zhou Xiaochuan said the growth rate has tumbled “a bit” too much and policy makers have scope to respond. Gemdale Corp. rose 6 percent as a gauge of Shanghai property shares posted its biggest gain since 2009.”

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