Country Garden (02007.HK) shares experienced a dramatic surge during Tuesday's trading session, soaring by 23.53% in a remarkable display of investor optimism. This significant upward movement came as part of a broader rally in mainland real estate stocks listed in Hong Kong.
The surge in Country Garden's stock price was particularly noteworthy, with the company leading the sector's gains. According to market data, Country Garden's shares climbed even higher than the reported movement, reaching an impressive 33% increase. This robust performance was echoed across the real estate sector, with other major players also posting substantial gains.
Among the other beneficiaries of this sector-wide rally were Shimao Group, which saw its shares rise by 20%, Ronshine China, which gained over 10%, and KWG Group, which advanced by nearly 9%. The collective surge in these stocks suggests a renewed confidence in the Chinese real estate market, potentially driven by positive industry news or regulatory developments, although specific catalysts were not immediately clear from the available information.