- China's new-housing inflation weakened to an eight-month low in March, with the average price of new homes in 70 major cities moderating to +7.7% on year from +8.7% in February.
- On month, housing inflation slipped to 0.2% from 0.3%.
- Home prices rose on a year-on-year basis in 69 of 70 cities, as in February.
- The softening in prices reflects the government's attempts to cool the housing sector, although it also adds to concerns about the slowdown in the wider economy.
- "There are definitely risks in the property market of China's smaller cities," says Standard Chartered's Lan Shen. "The property market will be a big factor that presses the country's economic growth this year."
- The Shanghai Composite is -0.15%.
- ETFs: FXI, PGJ, GXC, FXP, YINN, KWEB, CYB, HAO, CNY, ASHR, CHIQ, DSUM, TAO, CHIX, YANG, CQQQ, MCHI, QQQC, PEK, XPP, YAO, CHXX, YXI, FXCH, CHXF, CHII, ECNS, CHIE, CHIM, FCA, KFYP, TCHI, CHLC, CHNA, KBA