[MARKET UPDATE] Chinese property developers rally with Country Garden Holdings up over 8% and with Sunac China higher by around 5% after Shanghai City eased home buying rules for non-residents

Chinese property developers rally with Country Garden Holdings up over 8% and with Sunac China higher by around 5% after Shanghai City eased home buying rules for non-residents.

The easing of home buying rules for non-residents in Shanghai is a significant step that could stimulate demand in the Chinese property market, particularly benefiting developers like Country Garden and Sunac China. This move may indicate a broader effort to support the real estate sector, which has faced challenges, and could lead to increased investor confidence and improved price stability in the housing market.