45% of China Companies See Slowdown

MarketWatch 
Nearly half of China's listed companies that have so far issued forecasts for the first half expect weaker earnings or losses for the period, according to a Tuesday report in China Daily, which cited financial data provider Wind Information Co.

About 45% of reporting companies listed on the Shanghai and Shenzhen stock exchanges expect weaker results, according to the report. The findings track 845 companies that have issued first-half outlooks as of Sunday, according to Shanghai-based Wind Information.

The report said manufacturing companies along with property developers made up the majority of companies that were expecting a weaker showing for the January to June period.

Shanghai Homeowners Smash Showroom in Protest Over Falling Prices

Image by Getty Images via @daylifeA weekend scuffle in Shanghai over a drop in apartment prices adds to increasing evidence that China’s efforts to tame a surging property market are having an impact – even as it offers a hint of what could happen if the measures go too far.

A group of around 400 homeowners in Shanghai demonstrated publicly and damaged a showroom operated by their property developer after the company said it cut prices. Home buyers had wanted to speak with the developer to refund or cancel their contracts but were unsuccessful, according to local media. One report said the price cuts exceeded 25% per square meter.

The local media reports said an unspecified number of people were injured. The property developer, a unit of China Overseas Holdings Ltd., didn’t respond to requests for comment. Photos of the event showed broken glass in the sales office, homeowners marching with banners and a phalanx of police watching over. More...