[HONG KONG] Shares of Hong Kong-listed property companies gained on Wednesday, led by China Resources Land Ltd, after state media reported that several mainland cities may relax home ownership restrictions.

China Resources Land rose as much as 4.8 per cent, Sun Hung Kai Properties Ltd climbed 3.8 per cent and Country Garden Holdings Co Ltd jumped 7 per cent.

The Hong Kong property sub-index climbed 2.8 per cent, beating a 0.3 per cent gain for the benchmark Hang Seng Index .

The Shanghai Securities Journal reported that local governments in Hangzhou and Changsha are planning to relax restrictions on the number of houses homeowners can purchase, citing anonymous sources. – Reuters