SUNAC's stock price surged 17.48% during intraday trading on Thursday, leading a rally among mainland real estate shares.

The sharp increase appears to be driven by positive sector sentiment following news that China Vanke, another major developer, is making $417 million in partial bond payments this week to buy time in its financial crisis. This move, approved by bondholders, represents the largest payout Vanke has made since initially seeking delays and provides the company with breathing room ahead of its next maturity date.

The development is being viewed as a constructive step for the troubled real estate sector, boosting investor confidence across related stocks including SUNAC.