14.08.2014 - The housing market in China fell again
Housing sales in China remain the main problem for the second largest economy in the world. In July, the number of housing sold fell by 28%, which is the biggest drop over this year. It should be noted that in June there was an increase by 33%, which was due to lower prices by developers.
Analysts attributed the current situation restrictions on the issuance of mortgage loans. Earlier, the authorities promised to simplify the process of obtaining a mortgage loan. In addition, investors are disappointed with yesterday's statistics on reduction of the country's industrial growth to 9.0%, which is 0.1% worse than expected.
We maintain a medium-term negative outlook on the Chinese stock market.