![]() ![]() "The on-the-ground feedback indicates a rise in property viewing activities however, most prospective buyers are not in a hurry to finalize deals due to the increasing supply of apartments post relaxation." ![]() "Despite the encouraging sign of stabilization, the property market continues to be the missing puzzle piece in the economic picture," said Tommy Xie, head of Greater China Research at OCBC Bank. Sentiment in Asia had improved last week after news of more policy support from Beijing and better-than-expected Chinese data added to signs the world's second-largest economy could be starting to stabilize from a months-long slowdown. The spotlight in the Asian morning fell on Chinese property developers listed in Hong Kong, which tumbled 2 percent in part due to a 20 percent plunge in China Evergrande Group after police in southern China detained some staff at its wealth management unit, the latest trouble to hit the embattled property firm.Īlso, Chinese trust firm Zhongrong International Trust Co, with exposure to Chinese property developers, said over the weekend it was unable to make payments on some trust products on time. ![]()
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