‘No One Immune’ Amid China Property Turmoil, JPMorgan Says
- Home prices fall for 11th month as mortgage crisis deepens
- At least $90b has been wiped out in stocks and bonds this year
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Chinese developers may report a 30% year-on-year decline in first-half earnings due this month, which will likely weigh on sentiment, according to JPMorgan Chase & Co. analysts.
“No one is immune” amid the industry turmoil and investors’ concerns about the liquidity of most private developers are set to linger, analysts including Karl Chan wrote in a note Sunday, as they downgraded developers including CIFI Holdings Group Co. and KWG Group Holdings Ltd.