SUNAC's stock price surged 6.60% during intraday trading on Friday, as the Chinese property developer benefited from a broad rally in the sector.

The sharp gain was driven by strengthening signals of a housing market recovery in China's tier-one cities. Data showed a significant surge in second-hand home transactions in Shanghai, with a single-day record hitting the highest level in nearly five years. Beijing also reported robust activity, with March signings up 144.6% month-over-month.

Adding to the positive sentiment, Goldman Sachs released a report forecasting that the Shanghai and Shenzhen property markets could bottom out by year-end and recover ahead of other cities, with home prices projected to rise 15% from late this year through 2028. The investment bank assigned SUNAC a target price of 4.13 HKD, well above its current trading level, noting the stock's attractive price-to-book ratio of 0.46x which is attracting speculative capital positioning for a rebound.