From CNN: 2024-05-16 07:31:00

Chinese stocks surged after Hangzhou officials announced plans to buy unsold homes, indicating a potential solution to the property crisis. The Hang Seng Index closed up, with property developers leading the way. Longfor Group and Sunshine 100 China Holdings saw significant stock surges. Speculation of a massive government bailout plan has been circulating, potentially easing negative impacts from US tariffs on Chinese exports. Investment in Chinese shares has been increasing, following a prolonged sell-off period that hit key indexes hard.



Read more at CNN: China teases plan to buy unsold homes to fix property crisis. Markets are loving it