Shares Drop on Li Warning, Home Sales Tumble: Evergrande Update
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New-home sales in 23 major Chinese cities plunged 33% by area during a five-day national holiday compared with a year earlier, despite policy makers’ pledges of support for the property market.
Chinese shares fell after Premier Li Keqiang warned that the nation’s employment situation was “grave,” as Beijing and Shanghai tighten virus curbs. A Bloomberg Intelligence gauge tracking junk dollar notes dropped last week for the third time in the past four five-day periods.