For my good friend O’Neill and with greetings from Asia :
By Daniel at 26 January, 2010, 9:33 am
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Nikkei 10325.28 -187.41
Hang Seng 20109.33 -489.22
Shanghai 3019.39 -75.01
Straits 2740.33 -71.38
Jakarta 2578.41 -19.44
TSEC 7598.81 -274.18
Sensex 16780.46 -79.22
One eye-opening stat: There’s currently 30 billion square feet of Chinese real estate in the works, which would work out to a 5×5x5 cubicle for every man, woman, and Child in the country.
SHANGHAI’S stock market fell for the third straight day as property shares sank among concerns that tighter mortgage policies will cool off the real estate sector.
The Shanghai Securities News today cited an unnamed official as saying that the pace of lending growth slowed in the third week of January compared with the first two weeks in the month.
The newspaper also reported that Bank of China, Industrial and Commercial Bank of China and Bank of Communications have suspended issuing mortgage loans for second homes in Nanjing since last weekend in order to ensure a reasonable new loan growth.
Not good ………………
- doubledutch
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