China Developers Fall as Easing Hopes Diminish: Shanghai Mover
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Chinese property stocks fell after June data damped market expectations of a loosening in the government’s real estate curbs and a media report saying a third Chinese city may introduce property-tax trials.
The gauge tracking Shanghai-listed developers was 0.1 percent lower at the close of trading, the only decline among the five sub-industry groups of the benchmark Shanghai Composite Index. Beijing Capital Development Co. fell 1 percent and Gemdale Corp. dropped 1 percent.