Chinese shares edged down on rising home prices

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Source: Dukascopy Bank SA
The Hang Seng Index inched down by 0.06% to close at 20,104.27 on Monday amid concerns that the PBOC will not implement stimulus measures as real estate prices started to rise again. In July, new house prices jumped in 50 out of 70 large and medium Chinese cities. Only four sectors in nine included in the index moved higher. On the upside were consumer goods and services. Sands China and Esprit Holdings rose by2.61% and 5.74%. On the downside were property developers on worries that property curbs will persist. China Resources Land, Sino Land and Henderson Land tumbled 0.80%, 0.74% and 1.47%, respectively. Financials also followed bearish trend, with bank of East Asia, Bank of Communications and China Construction Bank falling by 0.07%, 1.70% and 0.74%, respectively. Meanwhile, equities of telecommunication firms created strong pressure on the index as China Mobile extended previous slump, declining by 1.56%. On Friday, the mobile operator reported weaker than expected earnings in Q2.

 

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Mon, 20 Aug 2012 13:54:45 GMT

U.K. real estate prices decline

U.K. home sellers decreased asking prices by a record in August after the London Olympic Games and an unstable economic outlook confused potential buyers. Benchmark asking prices in England and Wales dropped 2.4% to 236,260 Pound from July, after a 1.7% slid, as reported on Monday. Costs tumbled 1.2% in London.

Mon, 20 Aug 2012 13:44:02 GMT

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