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SouFun (SFUN) Stock Up as China Stocks Break Losing Streak

NEW YORK (TheStreet) -- SouFun (SFUN - Get Report) stock is climbing by 4.77% to $7.14 in midday trading on Friday, as many China-based U.S. traded stocks advance after China markets posted their first monthly gain since May.

SouFun is a Beijing-based real estate Internet portal.

The Shanghai Composite Index closed October 11% higher, Bloomberg reports.

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The index has rallied by 16% since this year's low on August 26, as the government intervened with a number of monetary easing policies to boost the lagging economy, Bloomberg adds. Last week, Chinese policy makers lowered the interest rate for the sixth time this year.

Additionally, baby-related stocks pushed the market higher as China ended its one-child policy on Thursday.

"The two-child policy is something that's newly confirmed from the plenum and the market hadn't fully expected that," Zhang Haidong, chief strategist at Jinkuang Investment Management, told Bloomberg.

Separately, TheStreet Ratings team rates SOUFUN HLDGS LTD as a Hold with a ratings score of C+. TheStreet...


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