Shares in Chinese property firms soared after the country’s top leaders pledged to ramp up support for the economy
, both listed in Hong Kong, rebounded 18% and 26.5%, respectively - more than offsetting Monday's sharp declines.
Country Garden disputed a Debtwire report saying that it had engaged accountancy firm KPMG to perform due diligence on its assets and liabilities after it came under liquidity pressure. The company said this was not true but declined to give further details.to ramp up policy support for the economy amid a torturous post-COVID recovery, with a focus on boosting domestic demand.
While few details of the support measures were provided, investors cheered a change in tone, which they thought could mean more property stabilisation steps were imminent.
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