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Home prices in top China cities stabilising in January

But nationwide rebound is unlikely in near term due to a massive overhang of unsold homes in lower-tier cities

Average new home prices in 70 major cities were down 0.4 per cent in January from December, a ninth straight monthly drop following December's fall of 0.3 per cent.

Hong Kong

AVERAGE new home prices in China's major cities fell for the ninth straight month in January but showed some signs of stabilising in the top cities in a small sign that the worst may be over for the ailing property sector.

Still, market watchers said that a nationwide