0658 GMT - Chinese property stocks were broadly lower in the afternoon, staying in negative territory after a meeting of officials did little to buoy hopes of more stimulus. Data earlier in the day showed that the sector's slump continues, with prices, sales and investment in decline. Market hopes that the meeting, held by Chinese leader Xi, would yield fresh policy support were disappointed. Though a readout of the meeting said the country is trying to develop a new model for the property sector, analysts don't see any signs of concrete measures on the horizon. The benchmark Hang Seng Mainland Properties Index is down 1.5%. Among the developers trading lower is Agile Group, down 7.8%. Sino-Ocean Group falls 6.0%, Shimao Group loses 5.8% and Kaisa Group is down 3.5%. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
July 15, 2025 03:00 ET (07:00 GMT)
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