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Chinese property stocks surged in early trade amid reports that Chinese government officials have signed off on sweeping measures aimed at helping the struggling property sector.
Top gainers include Country Garden Holdings Co. (2007.HK, referred to as: Country Garden) and Longfor Group Holdings Limited (0960.HK, referred to as: Longfor Group), both in Hong Kong The market surged 38% and 20%, respectively. In the Chinese mainland market, Gemdale (Group) Co., Ltd. (Gemdale Co., 600383.SH, referred to as: Gemdale Group) and Seazen Holdings Co., Ltd. (601155.SH, referred to as: Seazen Holdings) ) both hit the daily limit of 10%.
The Wall Street Journal…