【CNBC】New warning signs emerge for China’s property market

• Data for May show China’s massive property sector is still struggling to turn around, despite signs of recovery earlier this year.
• New home sales for the week ended May 28 grew by 11.8% from a year ago, a sharp slowdown from 24.8% growth a week earlier, pointed out Nomura’s chief China economist Ting Lu in a report.
• In the secondary-home market, business activity “has been cooling since April, with a fall in the number of listed-for-sale homes, lower asking prices and fewer transactions,” Fitch Ratings said.

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