The Wall Street Journal has a story today on the sudden and steep rally in Chinese shares, especially large developers:
As China’s real-estate market slows, investors are turning bullish and buying up stocks of large property developers, betting they won’t only ride out the storm but also grow.
The MSCI China Real Estate Index, which tracks the stocks of mainland developers, has surged 16.5% from the start of July through Friday, on pace for its best month in nearly three years, as local governments have started to ease restrictions on housing purchases to boost sales. The index remained down more than 3% for the year.