SouFun Leads June Drop on Sales Concern as Housing Slow
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Real-estate companies are leading declines among Chinese stocks traded in the U.S. this month, with SouFun Holdings Ltd. headed for the worst drop in two years, as a housing slowdown spurs concern that sales will slow.
SouFun, China’s biggest real-estate information website, has sunk 25 percent in June, the steepest monthly decline since July 2012. E-House China Holdings Ltd., a Shanghai-based property brokerage, has plunged 13 percent while online property listing website Leju Holdings Ltd. has lost 18 percent. The Bloomberg China-US Equity Index rose 0.1 percent to 104.69 last week in New York.