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Hong Kong Market climbs on US rate-cut bets, China housing policy support
Meanwhile, realty stocks got further boost on supportive measures launched by local Chinese governments to shore up the property market. In the latest effort to stem the downturn and reduce inventories, the city of Hangzhou said that it would buy existing homes and rent them out as affordable housing and Hefei would give homebuyers subsidies equivalent to 2% of the values of purchases homes.