HONG KONG — While China’s efforts to prevent its real estate slump from triggering a financial crisis have buoyed bank stocks, property shares remain weak in a sign that investors are unconvinced that the market has stabilized.
Developers are slashing prices in a bid to unload housing inventories that are vastly above demand. At CK Asset Holdings’ new Regency Park property in Beijing, prices of roomy units designed for families are down roughly 30% from last year, Chinese media report.
