China Stocks Tumble Most in Eight Months on Property Loan Curbs
April 19 (Bloomberg) -- China’s stocks plunged, driving the benchmark index down the most in almost eight months, on concern a government crackdown on the property market will increase bad loans and damp consumer spending.
A gauge tracking Chinese real-estate stocks tumbled 6.8 percent to a one-year low, led by China Vanke Co. and Poly Real Estate Group Co., after the State Council told banks to stop loans for third-home purchases.
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