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10 Oct 2017 (AFR) – China’s holidays anything but golden as home sales plummet

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(10 October 2017, AFR, p36, by Bloomberg News)

‘China’s Golden Week is leaving investors flat as figures from home sales to Macau casino revenue disappoint. Chinese property developers slumped in Hong Kong after the Economic Information Daily said new home sales tumbled in Beijing and Shanghai compared with a year earlier. Galaxy Entertainment Group sank as much as 3.4 per cent, with the Power Macao Gaming Association saying revenue was at best slightly higher versus the previous year. Hna-Caissa Travel Group Co led losses by tourism-related stocks on the mainland after retail sales and restaurant receipts grew at a slower pace.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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