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SouFun Leads Drop by Property Stocks

Chinese equities retreated in New York, capping their first slump in three quarters, on concern new limits on wealth-management products will reduce bank lending to real estate companies.

The Bloomberg China-US Equity Index of the most-traded Chinese stocks in the U.S. slipped 0.7 percent to 92.2 yesterday, for a 7 percent decline this quarter. SouFun Holdings Ltd., China’s biggest real estate information website, and property agent E-House China Holdings Ltd. both dropped the most in two weeks. China Life Insurance Co. slid 3.8 percent, while Semiconductor Manufacturing International Corp. traded at the widest discount to its Hong Kong stock in a week.