The latest survey by China’s National Bureau of Statistics indicated that average home prices in 70 Chinese cities were unchanged in June from May. That ended eight straight months of declines and suggests that the real estate market in the People’s Republic may have bottomed out.
New home prices in just 21 major cities fell during June, compared to 43 cities that reported month-on-month declines in May and April. The survey also showed that prices in some cities rose as the number of transactions increased following interest-rate cuts and government efforts to boost sales and stimulate the economy.
Premier Wen Jiabao and other government officials have pledged to keep residential property prices from rebounding.
Hong Kong’s Hang Seng closed 1.11% lower Wednesday on concerns about HSBC (NYSE: HBC). China’s Shanghai Composite Index ended 0.3.7% higher on expectations for policy easing.
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.