Shares of most major
Chinese developers fell on Monday even after China announced
historic steps to stabilise its crisis-hit property sector. Hong Kong s Hang Seng Mainland Properties.
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HONG KONG (Reuters) -Shares of Chinese developers wobbled on Monday as investors fretted that China's "historic" steps to stabilise its crisis-hit property sector fell short of what is required to foster a sustainable turnaround in demand and confidence. Hong Kong's Hang Seng Mainland Properties Index closed down 0.7%, after having gained around 18% so far this month after the Politburo said in an April 30 meeting that it would coordinate to clear housing inventory. Embattled state-backed developer China Vanke eased 0.2%, after bouncing as much as 6.4% in the morning session.
HONG KONG (Reuters) - Shares of most major Chinese developers fell on Monday even after China announced "historic" steps to stabilise its crisis-hit property sector. Hong Kong's Hang Seng Mainland Properties Index dropped more than 2%, having gaine.