The Shanghai Composite is off 2 percent and is being dragged down by property stocks. The Shanghai Stock Exchange Property Index (SHPROP) has tumbled 8.7 percent. (via @Bill Bishop). China Vanke, a property giant, and Poly Real Estate Group are both down nearly 10 percent. This comes after the government published an online notice stating that homeowners that sell their homes will be taxed 20 percent on the profit they make, according to Xinhua. The notice also allowed banks to charge higher int...
The Shanghai Composite is off 2 percent and is being dragged down by property stocks. The Shanghai Stock Exchange Property Index (SHPROP) has tumbled 8.7 percent. (via @Bill Bishop). China Vanke, a property giant, and Poly Real Estate Group are both down nearly 10 percent. This comes after the government published an online notice stating that homeowners that sell their homes will be taxed 20 percent on the profit they make, according to Xinhua. The notice also allowed banks to charge higher int...
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