China Property Market Set for ‘Meltdown,’ Morgan Stanley Says
Sept. 12 (Bloomberg) -- China’s property market could be headed for a “meltdown’’ as home prices and sales decline, and bank earnings will be affected, according to Morgan Stanley.
“Property prices are already cracking in China in major cities,’’ wrote Morgan Stanley analysts led by Jerry Lou in a note today. “We believe the likelihood of a property sector meltdown is high. The impact on banks’ earnings may be substantial.’’
Morgan Stanley has an “underweight’’ on financials, which include banks and properties.
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China Property Market Set for ‘Meltdown,’ Morgan Stanley Says
Sept. 12 (Bloomberg) -- China’s property market could be headed for a “meltdown’’ as home prices and sales decline, and bank earnings will be affected, according to Morgan Stanley.
“Property prices are already cracking in China in major cities,’’ wrote Morgan Stanley analysts led by Jerry Lou in a note today. “We believe the likelihood of a property sector meltdown is high. The impact on banks’ earnings may be substantial.’’
Morgan Stanley has an “underweight’’ on financials, which include banks and properties.
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