Chinese Property Stocks Are On A Tear

Chinese property stocks are up after the follow-up measures announced by local governments ended up being less strict than markets had expected.

The Shanghai Stock Exchange Property Index (SHPROP) is up 2.4 percent.

A month ago, when China first announced a 20 percent capital gains tax on home sales, the SHPROP had tumbled nearly 9 percent.

Here's a look at how the SHPROP is doing: