Mainland Chinese property stocks soared in Hong Kong on Friday after the People’s Bank of China lowered the down payment requirement for first-home buyers. Index component China Resources Land rallied 9.1 per cent to HK$19.82, and China Overseas Land & Development, also a Hang Seng constituent, jumped 6.2 per cent to HK$24.85. Among other major developers, Poly Property Group was up 7 per cent to HK$2.28, Shimao Property gained 6 per cent to HK$12.32, and Country Garden advanced 3.9 per cent to HK$2.90. The People’s Bank of China on Wednesday lowered the minimum down payment required for first-home buyers to 25 per cent from 30 per cent, in a move designed to stimulate the housing market. Meanwhile, Macau casinos also staged a broad-based advance following the release of September revenue figures that showed the pace of decline in gambling revenue appears to easing. Government data showed gambling revenue contracted 33 per cent in September from a year earlier, narrowing from 35.5 per cent on year decline in August. Galaxy Entertainment Group gained 9.7 per cent, SJM Holdings rose 7.9 per cent, MGM China climbed 6.8 per cent, and Sands China Ltd. tacked on 6.2 per cent. Among other top gainers, Chinese automakers advanced after the Beijing rolled out new policies on Tuesday to support alternative energy vehicles. Greatwall Motor, the country’s largest sport utility vehicle producer, leapt 14.5per cent, electric-car manufacturer BYD rose 4.9 per cent, and Geely Auto, a leading private automaker, was up 4.3 per cent.