Oct
10

Chinese Developers Tumble Most in Two Weeks on Property Curbs

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  • Poly Real Estate, Beijing Capital retreat to pace losses
  • Shanghai becomes latest Chinese city to add to restrictions

Chinese property shares took their biggest beating in two weeks after authorities in more than a dozen cities imposed restrictions to curb surging prices during a week-long holiday for the financial markets.

Poly Real Estate Group Co. and Beijing Capital Development Co. lost at least 3.5 percent, dragging down a gauge of developers in Shanghai by 1.9 percent at the close, the most since Sept. 26. Shanghai’s housing commission announced over the weekend steps including increasing land supply and forbidding price increases in new home pre-sales without approval, as it joined other Chinese cities in a push to ensure the real estate market is stable…

Chinese Developers Tumble Most in Two Weeks on Property Curbs

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