Chinese property developers had a great week:
A Bloomberg stock gauge of the country’s developers rose 1.6% Friday, putting its advance since mid-March at 42% — more than seven times that posted by the benchmark CSI 300 Index. Chinese offshore junk bonds, dominated by builders, also remain on pace to rise for a third week and build on their biggest weekly gain of 2022, a Bloomberg index shows.
The recent weakness has amplified calls for more-aggressive policy action. Authorities have so far rolled out only piecemeal measures, such as not expanding a property tax trial, reduced mortgage rates and better access to loans for builders in some cities and provinces.
