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China stocks lose ground for a third day on concern government to pare policy loosening

China’s stocks dropped for a third consecutive trading day, with a 2.1 per cent gain on the benchmark evaporating, as concerns that the government will scale back policy easing countered credit growth that exceeded analysts’ estimates.The Shanghai Composite Index fell 0.3 per cent, or 10.84 points, to 3,177.79 at the close on Monday. The ChiNext gauge of small companies declined 1.7 per cent. Hong Kong’s Hang Seng Index slipped 0.3 per cent to the lowest level in almost two weeks.Equities… Source link

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Haikou city imposes fresh housing restrictions, dampens hopes of policy loosening in China’s property market

Haikou city in China’s southern Hainan province introduced a fresh round of restrictions on the sale of homes on Wednesday, weeks after three cities on the mainland eased their housing policies amid headwinds. According to Shanghai Securities News, companies cannot buy homes and only residents who moved to the city before April 22, 2018 can buy more than one home. Official documents also reiterate strict compliance to prices agreed by the government. The Haikou government did not respond to requests for comment. Easing restrictions at the national level, not city…

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