Drop wipes out a year's gains, raises expectations government will have to add stimulus to buffer blow to economy
Sat, Oct 25, 2014 - 5:50 AM
THE DOWNSIDE: The decelerating property market, which accounts for about 15 per cent of China's economy, has crimped demand in 40 sectors ranging from steel to cement and furniture, according to some analysts.
CHINESE home prices fell for a fifth straight month in September, wiping out a year's gains and raising expectations the government will have to add stimulus to cushion the blow to the economy.
Average home prices in 70 major Chinese cities fell 1.3 per cent last month...