Chinese investors plow money into luxury home companies; Asian banks and commodities post solid gains


Major indexes in Asia rose Wednesday with China's Shanghai Composite Index gaining 1.1% to close at 3,270. In Hong Kong the Hang Seng Index added 8.0%, ending the day at 22,290 and in Japan, the Nikkei Index inched up 0.4% to 9,609.

In China, real estate developers led gains as home buyers continued to take advantage of China's government mandated incentives that are boosting sales and propping up prices.

China Merchant's Property Development soared 8%. The company creates European-style communities on the outskirts of major cities like Shanghai where stately developments called names like Hyde Garden are nestled among immaculately groomed gardens. The company is also branching out to up-and-coming cities like Tianjin where communities with names like Diamond Hill promise the most elegant of lifestyles, complete with heated swimming pools, yoga rooms and gleaming marble bathrooms.

Gemdale, which also focuses on luxury properties, added 3.1%, Poly Real Estate gained 2.8% and China Vanke (CVKEF), one of the largest developers, added 2.2%.