3 days ago
China's Inaction Deepens Peril for Struggling Property Stocks
Investors are growing skeptical that Chinese developer stocks will stage a rebound this year, as Beijing's reluctance to unleash sweeping stimulus deepens pessimism about the sector.
A gauge of developers' shares notched its biggest weekly drop in four months after a key meeting on Tuesday failed to yield any concrete measures to revive the industry. Property sales are likely to remain weak in the third quarter, with better-than-expected economic growth data undermining the case for stimulus in the near term, according to Morgan Stanley.
