China property stocks jumped Monday after Beijing layed out more support measures over the weekend to shore up the troubled sector.
While the Hang Seng Index was last down 0.4% in volatile trading Monday, the Hang Seng Mainland Properties Index rose over 2%.
Shares of other real estate developers also saw significant gains, including China Overseas Land & Investment and Yuexiu Property gaining nearly 7% and 6%, respectively.
Real estate was also the leading gainer in Mainland China's CSI 300, advancing nearly 5%, while the broader index was up 2%.
The rally came after China's Ministry of Finance outlined new policy measures focused on stabilizing the beleaguered real estate sector.
Persons:
Tommy Xie, Leonard Law
Organizations:
China Jinmao Holdings Group Ltd, Beijing, Mainland, China Resources, China Overseas Land & Investment, Yuexiu, China's CSI, China's Ministry, Finance, OCBC Bank, Lucror Analytics, CNBC
Locations:
Jinmao, Shanghai, China, China's, Asia