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China rate cut seen helping property market

But a strong recovery is unlikely in view of an over-supply of unsold homes

China's home prices fell again in February from January, but the pace of declines has slowed, suggesting that Beijing's loosening efforts may be starting to bear fruit, two private surveys showed. The drop in mortgage rates after two policy rate cuts totals 65 basis points.

Hong Kong

CHINA'S second interest rate cut in just over three months will boost property sales and help stabilise weak house prices, but a strong recovery in the sector is unlikely given a glut of unsold homes, market watchers said on Monday.

The property industry accounts for some