Skip to content
Subscriber Only

China’s Developers Surge After Interest Rate Cut: Shanghai Mover

China’s property shares rose the most in four months after the nation’s central bank cut interest rates for the second time in a month to bolster the country’s economic growth.

The gauge tracking developers on the Shanghai Composite Index added 3.5 percent, the most since March and the biggest gain among five industry groups on the benchmark, at the close of trading. China Vanke Co., the biggest listed developer on the mainland, climbed 3.9 percent to 9.65 yuan in Shenzhen, the highest since November 2010. Poly Real Estate Group Co., the second largest, surged 5 percent to 12.82 yuan, the highest in 2 1/2 years.