Shares of listed developers with China exposure notably higher in active trades, tracking rebound by peers in HK and Shanghai, on hopes that Beijing will be less aggressive in seeking to rein in home prices. China Times quoted a NDRC official as saying that China will not impose any property tax on residential housing for another 3 years. If true, it will mean no further major tightening measures in the pipeline.
Housing accounts for one-third of fixed asset investments and a drastic slowdown could curtail the 8% GDP growth target. Yanlord Land +4.9% at $1.70, Ying Li +2.5% at $0.41, Guocoland +4.4% at $2.12, CapitaLand +2.6% at $3.60.
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