HK Movers | Mainland Real Estate Shares Jump. SUNAC Surges 16%; Country Garden, Shimao Group up Around 9%; China Vanke up over 6%

Mainland real estate shares jumped on Thursday. SUNAC surged 16%; Country Garden, Shimao Group up around 9%; China Vanke up over 6% as it buys time in crisis with $417 million of bond payments.

That’s the amount Vanke must make in partial payments this week to holders of three bonds, after winning their approval to push back full repayment by one year. Such payouts would be the largest Vanke has made since it first sought delays in late November, and would give it breathing room ahead of its next note maturity in late April. work on a plan for one of the country’s biggest ever restructurings is now clear: 2.9 billion yuan ($417 million).

That’s the amount the developer must make in partial payments this week to holders of three bonds, after winning their approval to push back full repayment by one year. Such payouts would be the largest Vanke has made since it first sought delays in late November, and would give it breathing room ahead of its next note maturity in late April.