Property firms ride out feared Fed hike

Share prices of property developers listed in Shanghai and Shenzhen surged last week after the country's top leadership vowed to stabilize the inventory-laden real estate sector.

Market analysts see long-term growth opportunities in the sector as they anticipate more detailed pro-industry measures from the government.

Last Monday, a key meeting of the Political Bureau of the Communist Party of China discussed major economic tasks for 2016. It said one key task is to increase effective demand for properties.