On the market appeared information according to which the Chinese government is developing measures to support the housing market in the country. The reason for this step was the statistics on reduction of house prices by 0.4% in January compared to December in 70 major cities. Housing prices decreased by 9 consecutive months. Oversupply on the market stimulates the slowdown in construction, which is one of the key sectors of the economy. The crisis in the housing market is the main risk for the further growth of stock indexes in the region. At the moment, we maintain a positive medium-term outlook for the stock indexes in China, but admit a high risk associated with the construction sector.