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Property concerns weigh on China market

Posted on 14 March 2013

Asian markets were lower on Wednesday, with concerns over the Chinese property market pulling down stocks in Hong Kong and Shanghai. Stocks in mainland China remained weak, with the Shanghai Composite down 1% to 2263.97, its fifth consecutive session of losses, as sentiment in the market remained weak after the latest set of Chinese economic data showed a moderation in the recovery of Asia’s largest economy, and amid renewed government efforts to control the property market.
Concerns over the property market were stoked on Wednesday by local media reports saying that Shenzhen has imposed price curbs on developers: China Vanke dropped 2.4% in Shenzhen and Poly Real Estate Group lost 3.8% in Shanghai………………………………….Full Article: Source


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