Two accused teenagers to remain in custody for at least two more weeks | SaltWire #newsupdate #newsHONG KONG -Shares of Chinese property developers rallied on Monday on speculation more stimulus measures are likely to be unveiled this week aimed at clearing inventory, boosting sales and lifting home purchase restrictions.
A Hong Kong court on Monday adjourned a hearing to liquidate Kaisa to May 27, as the Shenzhen-based developer said it aims to iron out restructuring terms in the coming four weeks.Investors have been dumping Vanke's shares and bonds in recent months on liquidity concerns. The company is due to announce its first quarter results on Monday.
"There certainly is hope that the central and local governments will introduce more supportive measures. But apart from more interest rate cuts, other measures, like capital support from local governments will be quite hard to be implemented, as we know they are facing restrained resources themselves."