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Property shares drop as tougher moves feared

2010-04-20 14:42 BJT

China's property shares ended low Monday, on more signs that tougher government action may be around the corner to cool runaway prices.

The Chinese mainland market has 110 real estate stocks. 32 dropped 10 percent, the highest daily range that a share is allowed to decline. Another 42 developers also suffered an over 8 percent decline.

Shenyin and Wanguo Securities say it seems that the country is determined to rein unreasonable growth in housing prices. The institution expects more property clamp-down rules from regional and local authorities, and this should ease short-term demand in the housing sector.

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Editor: Zhang Ning | Source: