Country Garden-related stocks surged in morning trading. As of the time of writing, COUNTRY GARDEN (02007) gained 3.16% to HK$0.49, while CG SERVICES (06098) rose 3.46% to HK$7.47.

On the news front, Country Garden announced that it has agreed on the main terms of the restructuring proposal with the coordinating committee, which represents 49% of the total principal amount of existing syndicated loans. Members of the coordinating committee have either joined the restructuring support agreement or are undergoing internal procedures to obtain relevant approvals to join the restructuring support agreement. The company announced that holders representing over 77% of the total principal amount of Category 2 debt have joined the restructuring support agreement.