HSI Rallies 190 pts; CN Homebuilders, Real Estate Ascend

At open, $Hang Seng Index(800000.HK)$ rallied 190 pts or 1.2% to 16,419; $Hang Seng China Enterprises Index(800100.HK)$ elevated 62 pts or 1.1% to 5,612; $Hang Seng TECH Index(800700.HK)$ hiked 46 pts or 1.3% to 3,733.

Local real estate stocks fared well, with $HENDERSON LAND(00012.HK)$ opening 2.7% higher. $NEW WORLD DEV(00017.HK)$ , $HANG LUNG PPT(00101.HK)$ , $Link Real Estate Investment Trust(00823.HK)$ and $WHARF REIC(01997.HK)$ also burgeoned by 1.9% to 2.3%. $CKI HOLDINGS(01038.HK)$ , $POWER ASSETS(00006.HK)$ and $CK ASSET(01113.HK)$ rose 1.2% to 1.3%.

Chinese homebuilders were similarly brisk. $CHINA OVERSEAS(00688.HK)$ , $LONGFOR GROUP(00960.HK)$ and $CHINA RES LAND(01109.HK)$ ballooned 2% to 2.3%. $COUNTRY GARDEN(02007.HK)$ leapfrogged 5.2% to $0.81 after the company announced to fully dispose a 1.79% stake in Zhuhai Wanda Commercial Management, and reportedly further transferred its shareholding in its Shiyan real estate unit.