0316 GMT - China's property sector isn't expected to bottom out soon, as a stable house-price trend remains elusive, suggesting that there won't likely be a meaningful recovery in home buyers' confidence in the next few months, Nomura analysts Jizhou Dong and Riley Jin say in a research note. Weakening property activity also weighed on retail sales in August, especially in property-related segments, they say. Given the low base in 4Q 2023, Nomura expects a slight improvement in private property sales and volumes in 4Q. Yet the analysts reckon that potential new mortgage policies could have a minimal impact on home-sales sentiment and therefore maintain a cautious sector view. Nomura continues to favor KE Holdings along the property value chain. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
September 15, 2024 23:16 ET (03:16 GMT)
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