China Vanke shares climb after bondholders' nod to defer some repayments

China Vanke's shares rose 4.4% in Hong Kong and 3.8% in Shenzhen after bondholders approved deferring repayments on two yuan-denominated bonds. This approval provides the state-backed property developer with financial relief as it navigates other debt negotiations with support from Beijing. Additionally, Shenzhen Metro will offer a loan of up to 2.36 billion yuan ($340 million) to assist in repaying bond principal and interest. Year-to-date, Hong Kong shares are up 13.1%, while Shenzhen-listed shares have increased by 5%.