Shanghai Composite Erases Gains as Banks, Property Stocks Drop

Posted by property | Posted in Real Estate | Posted on 28-05-2010-05-2008

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Shanghai Composite Erases Gains as Banks, Property Stocks Drop
May 28 (Bloomberg) — China’s stocks erased gains as banks and property developers dropped after Beijing News reported China Vanke Co. may cut apartment prices by up to 30 percent within three months and Xinhua said real estate policies in the local government level are “soft.”
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China Property Stocks to Rebound by End of Year, Lion Fund Says
May 28 (Bloomberg) — China’s property stocks , the worst- performing group this year, are unlikely to rebound until the third quarter when measures to curb the record growth in prices take effect, according to Lion Fund Management Co.’s Xia Junjie.
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Shanghai May Trial Property Tax Soon, Securities Times Reports
May 28 (Bloomberg) — Shanghai may soon begin trials of a property tax, the Securities Times reported today, citing an unidentified person. Details for collecting the tax will be discussed by the city government soon, the Shenzhen-based newspaper reported.
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