BUZZ-China Vanke Hong Kong shares hit 2-1/2 months high on rescue package report

Reuters
02/12
BUZZ-<a href="https://laohu8.com/S/CHVKF">China Vanke</a> Hong Kong shares hit 2-1/2 months high on rescue package report

** China Vanke's Hong Kong shares 2202.HK jump 8.1% to HK$4.14, highest level since Nov 26

** Set for biggest one-day rise since Dec 10

** Top gainer on Hang Seng Composite Index tracking properties and construction stocks .HSCIPC, which is up 0.1%

** Shenzhen-listed stock 000002.SZ climbs 3.5% to 5.06 yuan, highest since Feb 9

** Shenzhen municipal government drafting 80 bln yuan ($11.6 bln) rescue package for state-backed developer, Octus reported

** Vanke estimated 2025 net loss at about 82 bln yuan in late January

** Co did not respond to Reuters' request for comment; Shenzhen government could not be reached for comment

** HK stock up 22% YTD vs Shenzhen shares' 6% gain

($1 = 6.9010 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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