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Stocks

Nikkei Asia300 Index declines as Chinese real-estate stocks slump

Eight Chinese cities introduce curbs on housing market

MUMBAI (NewsRise) -- Asian stocks outside of Japan fell Monday, weighed by a slump in Chinese real-estate developers and suppliers to Apple.

The Nikkei Asia300 Index declined 0.8% to 1,303.90. China Vanke and China Overseas Land & Investment plunged at least 6.7% each in Hong Kong after eight Chinese cities rolled out tightening measures for the real estate sector over the weekend, according to a Xinhua report. The report said the cities had banned the resale of homes within five years of purchase as policymakers seek to rein in speculation in the real-estate market. Outside of the A300 index, China Evergrande Group, China Resources Land and Sunac China slumped by 7.5% or more.

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