SouFun shares rise on investment in broker
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New York
SOUFUN Holdings Ltd rose in New York after the Chinese home-listing website invested in broker IFM Investments Ltd, extending gains as China eases mortgage policies to stem a property slump.
SouFun's American depositary receipts climbed 0.9 per cent on Tuesday, bringing their one-week advance to 3.8 per cent after the central bank loosened loan rules. The Bloomberg index of the most-traded Chinese stocks in the US was little changed in the period while markets in mainland China were closed for the National Day holidays that ended on Tuesday.
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