(Bloomberg) -- Chinese developers’ shares rallied on Monday, with China Vanke Co. hitting a six-month high, on expectations authorities will unveil more measures to support the nation’s slumping property market.

A gauge of property shares rose as much as 3%, the biggest move over a month, led by developers including China Vanke, Sunac China Holdings Ltd. and Longfor Group Holdings Ltd. China Vanke shares in Hong Kong surged as much as 16%, while Sunac China soared as much as 13%.

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Analysts said the gains reflect growing expectations of further policy support. Meanwhile, Shanghai announced policies to bolster housing demand, such as easing buying restrictions in the suburbs.

Additional measures could come as early as September, with authorities preparing to speed up urban renovation projects and bolster the struggling property market, the Securities Daily reported, citing an industry expert.

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