Slump in China equity market may hit property sector

Shanghai

ON June 10, as the Shanghai Composite Index was heading for a seven-year peak, Wan Xinjian borrowed the maximum that he was allowed from his brokerage to buy more stocks.

As the market started to plummet on June 12, the 49-year-old businessman had to make contingency plans and eventually sold a 7.8 million yuan (S$1.7 million) flat that he was renting out for investment income in Shanghai after Haitong Securities Co called in his margin loans.