China Stocks From Property to Tech Jump on Evergrande Respite
- Property developer is seeking to make deals as debt payments
- Investors betting that there won’t be wider market contagion
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Beaten-down Chinese shares from property developers to tech giants and casinos advanced on Thursday as worries that a spread of China Evergrande Group’s debt woes to the broader market ebbed.
The Hang Seng Property Index gained 4.6%, the most since Nov. 10, while gauges of technology company stocks and Macau casino operators both climbed at least 0.9%. China Evergrande surged 18%, the most in a year.