Chinese property shares dropped after housing sales fell during the Lunar New Year holidays, underscoring the challenge the country faces in salvaging the real estate sector.
A Bloomberg Intelligence gauge of developers fell as much as 3% on Monday by 11:10 a.m. Residential sales by area declined 14% from a year earlier during the Lunar New Year week ending Jan. 27, according to data on 40 major cities tracked by China Real Estate Information Corp.
