Pimco turns cautious on China property bonds on cooling signs
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Shanghai
PACIFIC Investment Management Co (Pimco) said that it is turning cautious on Chinese property developers' offshore US dollar bonds as the real estate market cools.
New-home prices gained in 51 of 70 cities last month, down from 55 in June, the statistics bureau said last week. Nomura Holdings Inc estimated that the property market will cool further in the second half with investment growth slowing.
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