China Home Prices Rise 0.16% in May as Property Stocks Rally Up to 10.19%

1 articles · Updated · South China Morning Post · Jun 1

17,156 yuan per square meter was the average price of new homes in 100 Chinese cities in May, up 0.16% from April and 2.03% from a year earlier.
The gain extends increases seen in March and April, with first-tier city new-home prices rising 0.2% month on month in March and 0.1% in April.
Property shares jumped after the data, led by Deluxe Family up 10.19%, Grandjoy Holdings up 9.96% and Shanghai Lujiazui Finance & Trade Zone Development up 3.86%.
Analysts said shifting price expectations and firm demand in desirable cities suggest China's housing correction is nearing an end after five years of weakness.

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