China Property Stocks Fall 20% From May High as Concerns Linger
- Gauge of Chinese real estate shares decline 3.3% Thursday
- Investors remain skeptical over China’s support measures
May 29: China's Mega Cities Ease Home Downpayment, Mortgage Rules
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China’s property stocks entered a technical bear market over concerns that Beijing’s efforts to bolster the sector are too small to end the rout.
A Bloomberg Intelligence gauge of Chinese developer shares fell 3.3% on Thursday, extending losses from a mid-May high to almost 21%. Sunac China Holdings Ltd. was the biggest laggard with a slump of 12%, while CIFI Holdings Group Co. sank 8.4%.