Chinese developers jump after central bank pledges more support for embattled property sector

• The Chinese property sector breathed a sigh of relief Friday as the central bank promised support.
• The Hang Seng Mainland Properties Index jumped as much as 4.8% before paring gains.  
• China's property sector has had a dire year facing heavy debt burdens and low demand.

Chinese real estate stocks won a reprieve Friday as Beijing pledged funding support to help the embattled property sector out of its prolonged slump.