(Bloomberg) -- Chinese property shares surged, leading gains in the broader market, as sentiment got a boost after a major developer reached a solution with bondholders for its liquidity issues.

A Bloomberg Intelligence gauge of builder shares jumped as much as 9.9%, the most since September. CIFI Holdings Group Co. was among the biggest contributor, surging 25% after the company said it reached an agreement for its offshore liquidity situation with an ad-hoc group of bondholders.

Traders were also buoyed by the news that the city of Chengdu will no longer review home buyers’ qualifications for real estate purchases. Property shares have already been rallying amid speculation that regulators may ease home purchase restrictions in major cities. Local governments have also lowered the limit for mortgage rates on first-home purchase to counter a prolonged sales slump.

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