0613 GMT - China's latest nationwide property figures were a mixed bag, Daiwa analysts write in a note. The stabilization trend in the property market is still intact, but the recovery momentum is losing steam due to the shrinking pipeline, growing sales base and absence of stimulus hopes, they say. Residential property sales value dropped 6.6% on-year in April to 550 billion yuan, Daiwa says. The construction and investment figures remained sluggish in the first four months of 2025, underscoring developers' caution about a property market recovery, they say. Daiwa remains cautious about share prices of China's property names in the near term. China Resources Land and China Overseas Land & Investment remain its long-term picks. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 20, 2025 02:13 ET (06:13 GMT)
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