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- China Evergrande stock jumped as much as 82% Wednesday, leading other Chinese property names higher.
- The sector's rally followed Country Garden's $22.5 million in bond payments made Tuesday to avoid a default.
- Also lifting shares was commentary in the state-owned Securities Times, which called for further easing of restrictions on the property market.
Shares of China Evergrande rallied as much as 82% on Wednesday, leading a rally in Chinese property stocks that included Country Garden Holdings and Logan Group.
The sector-wide jump followed Country Garden's near-miss on a default after it was able to pay $22.5 million in bond coupon payments Tuesday. Those had originally been due in August, but the troubled developer paid them hours before the 30-day grace period concluded.