![]() to avert its first public dollar bond default.Īuthorities have taken several steps in recent months to bolster the property market, including a broad relaxation of downpayment requirements and cuts to some mortgage rates. A credit squeeze among developers has widened: The clock is still ticking for Country Garden Holdings Co. The economy still faces some very serious overhangs from that sector. The muted reaction in equities in part came down to further concerns about real estate. ![]() A Bloomberg gauge of Chinese developers shares were in line to hit their lowest since April 2009. The Hang Seng China Enterprises Index erased its post-data rally, and onshore stocks gauges remained lower for the day. Metals including copper and aluminum extended gains. Currencies of countries whose growth is linked to China - such as Australia, Thailand and South Korea - also rose. The yuan strengthened 0.2% in both onshore and offshore markets. Local and global markets responded positively to the data.
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