China Property Stocks Rise Most Since ’09 on Easing Optimism

Chinese property stocks surged the most in six years on speculation the government will ease real estate curbs to bolster the world’s second biggest economy.

The Shanghai Property Index jumped 7.3 percent at the close, its biggest gain since March 2009. Investors are speculating the government will cut the down payment ratio for second homes, said Clement Cheng, an equity trader at RBC Investment Management in Hong Kong. The People’s Bank of China said it’s unaware of any afternoon briefing after the Shanghai Securities News said the central bank will make an “important” announcement at a briefing at 3:30 p.m. local time.