China Evergrande stock jumped as much as 82% Wednesday, leading other Chinese property names higher.
Also lifting shares was commentary in the state-owned Securities Times, which called for further easing of restrictions on the property market.
AdvertisementAdvertisementThat comes after Beijing has already introduced a raft of measures to prop up the real estate sector and the broader economy.
Meanwhile, Evergrande — a former $50 billion real estate giant that last month filed for Chapter 15 bankruptcy protection — remains the world's most indebted property developer.
Days prior, a company filing showed a loss of 33 billion yuan in the six months up to June 30, adding on to the 582 billion yuan in losses from the last two years.
Persons:
China Evergrande, Evergrande, Logan, Evergrande —, Lehman, Nicholas Spiro
Organizations:
Securities Times, Service, Country Garden Holdings, Logan Group, Hong, Mainland, Citi, Zhongront, Lauressa
Locations:
China, Wall, Silicon, Hong Kong, China's, Beijing