NetEase Inc NTES shares are trading higher by 6.3% to $102.87 Friday morning. U.S.-listed Chinese stocks are trading higher during Friday's session amid renewed hopes of economic growth in the region.
Per a report by Bloomberg, China is in the process of implementing a new property policy within a test city being developed under the leadership of President Xi Jinping, situated on the outskirts of Beijing.
This strategic initiative seeks to provide stability to a housing market that has been rattled by the continuing challenges posed by a credit crisis.
In recent months, China has implemented a series of targeted stimulus measures aimed at revitalizing the sluggish real estate sector, amid growing concerns of potential default by one of the country's prominent property developers.
See Also: Why Alibaba Stock Is Trading Higher On Friday?
Why It Matters
China's implementation of targeted stimulus measures to revitalize the real estate sector is significant. Stimulus measures often inject liquidity into the market and support economic growth.
Investors may perceive these measures as favorable for companies operating in the real estate and related sectors, such as Netease.
According to data from Benzinga Pro, NetEase has a 52-week high of $110.82 and a 52-week low of $53.09.
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