property developers traded higher in hong kong after a holiday break catching up with chinese stocks following a prominent bullish call and data showing growth in firstquarter property sales the hang seng mainland properties index was recently 61 higher tuesday putting it on track for its biggest oneday gain since november country garden holdings co and seazen group ltd added 12 each while longfor group holdings ltd rose 58 the gains came after private data released last week by china real estate information corp showed that sales value at the countrys top 100 realestate developers rose 31 in the first quarter from a year earlier on friday highprofile shanghai hedgefund manager li bei revealed she took a bullish position in chinas property market citing higher contracted sales in recent months and lower supply and discounted valuations hong kong stocks were trading for the first time since thursday due to a holiday in china where markets were open many property stocks gained ground friday with the wind property index rising 35 ms li of the hedge fund shanghai banxia investment management center said in a socialmedia post friday that she believes the market value of many developers that havent defaulted on debt could rise to records home prices will stabilize and pick up as the supply of real estate falls ms li said she said that most of the realestate stocks in her portfolio are listed in hong kong given valuations that are much cheaper than their onshore counterparts property stocks are also trading at a significant discount to the broader market she said fitch ratings said in a note last week that the moderately positive momentum in the firstquarter sales should continue into the second quarter benefiting from the continued economic recovery supportive policy measures and a low base in the prioryear period