Shares of Chinese property developer China Vanke rose sharply on Tuesday following reports that the company is seeking to delay repayment on an onshore bond—its first such request.

Stock Performance:

• Hong Kong-listed shares jumped 2.8% to HK$3.63, on track for their largest single-day percentage gain since November 20.
• Shenzhen-listed shares gained 1.2% to 5.26 yuan, also set for their biggest daily rise since November 20 and snapping a four-session losing streak.

Catalyst:
According to a Bloomberg report citing sources, Vanke has asked holders of a bond maturing on December 15 whether it could delay both principal and interest payments until December 15, 2026. The company had flagged a potential extension last week without specifying the duration. This would mark Vanke's first request to extend an onshore bond.

Year-to-Date Performance:
Despite the day's rally, Vanke's Hong Kong stock remains down 32.5% year-to-date, while its Shenzhen-listed shares are down 28.2%.