Unlike with my friends one of his peers, shares in China's stock decline. Even the largest decline in the last week.
This condition occurs after the Xinhua news agency reported that the regulators would set strict rules related to housing price cuts. In addition, Citi Securities issued a statement that the rally that occurred on stocks with small capitalization will soon be over also helped push China's stock movement.
Stocks slumped today, among others, Poly Real Estate Group Co. and Gemdale Corp. with decreased respectively by 1.1 percent.
"We're not going to see impressive growth in real estate sector in the next few years. Because the government would not loosen its policy on the property until there is a decrease in real house prices," said Zhao Zifeng from China International Fund Management Co. in Shanghai.
At the close at 15.00 local time, the Shanghai Composite Index declining 0.6% to 2622.88. Meanwhile, CSI 300 Index decreased 0.7 percent to 2884.04 in which the settlement was led by healthcare and technology-based companies. (Bloomberg / Barratut Taqiyyah / cash)
Stocks slumped today, among others, Poly Real Estate Group Co. and Gemdale Corp. with decreased respectively by 1.1 percent. We're not going to see impressive growth in real estate sector a few years into the future.
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