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Evergrande swerves default again as Chinese developers rally
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Stocks and bonds of Chinese developers jumped on signs that Beijing could moderate its tough stance on the beaten-down property sector, while sector heavyweight China Evergrande again averted default by making another set of last-minute bond payments.
By midafternoon Thursday in Hong Kong, the Hang Seng Mainland Properties index had gained 5.6%, building on a rally in the previous session. Some real-estate stocks surged more, with China Aoyuan Group gaining 10% and China Vanke jumping 7%.
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