It took only some positive comments from Beijing for Chinese stock markets to go from gloom to euphoria in a single day. Turning around the sluggish housing market might require more time and much more concrete measures.
Beaten-up shares of Chinese developers have jumped along with the whole market as investors took their cue from policy makers’ comments that policy easing could be on its way. Shares of many beleaguered developers, however, are still way below their peaks.
for example, soared 59% Thursday. But that basically just returns the stock to where it was two weeks ago.
Chinese officials on Wednesday said they would introduce “powerful and effective” measures to mitigate risks in property companies and to facilitate their transformation to a new…
