China's CIFI jumps on progress of offshore liquidity proposal

** Shares of Chinese property developer CIFI Holdings (Group) Co Ltd 8884 jump as much as 25% to HK0.375, their highest since March 4

** Stock marks its biggest one-day rise since Nov 23, and on track for sixth consecutive session of gains; top gainer on the Hang Seng Composite Index tracking properties and construction stocks (.HSCIPC)

** CIFI said it has made progress and reached an agreement with the ad hoc group of bondholders on the key terms of a holistic proposal regarding its offshore liquidity situation

** The developer also said there are no current legal proceedings against the company commenced by any creditors

** Hang Seng Mainland Properties Index HHSMPI rises 1.9%, Hang Seng Composite Index tracking properties and construction stocks (.HSCIPC) adds 1.5% and Hang Seng Index HSI gains 0.8%

** Stock up 37.3% YTD