0604 GMT — Longfor Group Holdings Ltd. is probably the most talked about firm over the previous 4 hours, in keeping with Factiva knowledge, after it reported round a 50% improve in income within the first half. The Chinese language property developer’s internet revenue was solely barely greater on 12 months, but it surely mentioned it has a robust money place versus debt, and that it “is freed from debt compensation stress for the remainder of this 12 months.” Beijing’s announcement on Thursday of a trillion-yuan stimulus plan focusing totally on infrastructure spending has helped the Dangle Seng Composite Property & Development index to rise 1.0% for the day, with actual property improvement up 1.3%. Longfor is among the Dangle Seng Index’s high performers, up 5.5%. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)

(END) Dow Jones Newswires

August 26, 2022 02:20 ET (06:20 GMT)

Copyright (c) 2022 Dow Jones & Firm, Inc.