China developer Evergrande shares set to jump after upbeat earnings

HONG KONG Mon Mar 31, 2014 9:32pm EDT

A labourer (R) gestures to his colleague outside their dormitory at a residential construction site of Evergrande, near a wall painted with the company logo, in Guangzhou, Guangdong province June 22, 2012. REUTERS/Stringer

A labourer (R) gestures to his colleague outside their dormitory at a residential construction site of Evergrande, near a wall painted with the company logo, in Guangzhou, Guangdong province June 22, 2012.

Credit: Reuters/Stringer

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HONG KONG (Reuters) - Shares in Evergrande Real Estate Group (3333.HK) were set to open up 9 percent in Hong Kong after the developer reported a 49 percent rise in full-year net profit and said it expected China's property market to improve.

Evergrande's stock was set to open at HK$4.00, outpacing a 0.6 percent gain for Hong Kong's benchmark Hang Seng Index .HSI

(Reporting By Anne Marie Roantree; Editing by Paul Tait)

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