Vanke Rallies After Opening Door to Better Terms for Bond Delay

China Vanke Co. rallied in the equity and credit markets Wednesday after a bondholder meeting included discussion of sweetened terms among plans for a closely watched effort by the distressed builder to delay a note payment.

The builder’s shares in Hong Kong jumped as much 19%, the most in ten months. Its dollar bonds due in 2027 and 2029 rose about 2 cents, albeit it to the still deeply distressed level of some 23 cents. The moves came amid a surge in Chinese property stocks on broader speculation of new policy stimulus and bets on progress in the Vanke debt talks.