Salient to Investors:
The Shanghai index is at 13.4 times reported earnings, the highest level since September 2011, and its 14-day relative strength index was at 69 yesterday, close to the Sell signal level above 70.
Zhang Lei at Minsheng Securities cites speculation of more property tightening as home prices have not fallen.
Xie Yifeng at the Asia-Pacific City Development Research Center said China may add more policies to curb property prices before or after the National People’s Congress annual session next month.
Zhu Jixiang at CSC Intl cites expectation for more tightening measures as property prices in some cities are still rising.
Mao Sheng at Huaxi Securities said the economy is recovering, but uncertainty about its strength can be seen by declines in property and auto stocks.
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