news out of china (on Aug 2)

Property stocks continued to outperform as China Vanke Co Ltd (SZA 000002; SZB 200002) surged 2.87 yuan or by the daily 10 pct limit 31.57.

Finance Street Holding Co Ltd (SZA 000402) rose 3.48 yuan or 10 pct to 38.27, while China Merchants Property Development Co Ltd (SZPA 000024; SZB 200024) rose 6.09 yuan or 10 pct to 67.09.

Shenzhen Overseas Chinese Town Holding Co Ltd (SZA 000069) also surged 10 pct to 55.32.

Analysts said higher domestic housing prices and strong demand would drive property developers to post better-than-expected earnings.