Chinese Property Shares Lead Market Rebound as Optimism Rises
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Chinese property shares surged, leading gains in the broader market, as sentiment got a boost after a major developer reached a solution with bondholders for its liquidity issues.
A Bloomberg Intelligence gauge of builder shares jumped as much as 9.9%, the most since September. CIFI Holdings Group Co. was among the biggest contributor, surging 25% after the company said it reached an agreement for its offshore liquidity situation with an ad-hoc group of bondholders.