BEIJING : The Chinese government’s flurry of stimulus measures has upended the country’s stock markets. The announcement of a news conference by China’s Ministry of Finance, set for Saturday, has kept those hopes alive. As long as property prices remain depressed, they say, Chinese consumers are less likely to spend. New-home sales by floor area soared 81% over the course of the week compared with a year earlier, the China Index Academy said. Home sales and property visits also jumped in China’s three other top-tier cities—Shanghai, Shenzhen and Guangzhou—which offered similar measures to stimulate home purchases.

Source: Wall Street Journal October 11, 2024 13:56 UTC