China property shares firm after friendly policy tone

Hong Kong

SHARES of Chinese property companies outperformed the broader market on Monday (Mar 7) after Premier Li Keqiang confirmed expectations that more easing in the sector is coming, though only city-specific and not a full-scale relaxation, analysts said.

The Hang Seng Mainland Properties Index reversed morning losses to gain 1.5 per cent in the afternoon, versus a 3.2 per cent drop in the Hang Seng Index.