China Developers Fall on Property Curb Concerns: Shanghai Mover
This article is for subscribers only.
China’s property stocks had their biggest drop in more than six months, on renewed concerns that the government will issue more curbs to cool the real estate market.
The Shanghai Stock Exchange Property Index lost 4.6 percent at the close of trading, its biggest drop since Aug. 2. China Vanke Co., the biggest developer listed on mainland exchanges, declined 4.3 percent to 11.20 yuan in Shenzhen, a one-month low. Poly Real Estate Group Co., the second largest, sank 5.1 percent to 12.22 yuan, the lowest since Dec. 21.