Hong Kong stocks rose, with the benchmark index headed for its longest winning streak in almost six weeks, as property companies led gains after the People��s Bank of China told lenders to expedite home loans.
The Hang Seng Index rose 0.9 percent to 22,549.44 at the break in Hong Kong, gaining for a fifth day. The Hang Seng China Enterprises Index, also known as the H-share index, added 0.9 percent to 9,947.59. Property stocks also rose in Shanghai after Beijing Business Today reported Tianjin may ease curbs on purchases of third homes.
The PBOC yesterday told the nation��s 15 biggest lenders to accelerate the granting of mortgages, prioritizing first-time buyers while monitoring credit risks. With developers holding off on new construction, Premier Li Keqiang is seeking to put a floor under the economic slowdown. Home sales fell 18 percent in April from the previous month, according to data from the National Bureau of Statistics.
Source : Bloomberg