Nomura On China: ‘The Correction Has Started’
Investors continue to watch Chinese markets for any sign that the country’s inevitable slowdown will turn into something worse. While property markets are noisy, a recent drop from 4Q13 levels has convinced analysts at Nomura that we are seeing the beginning of a steep drop.
“We had a high conviction that property investment growth will slow in 2014, but we did not expect such decisive evidence as early as Q1. To us, it is no longer a question of “if” but rather “how severe” the property market correction . . .
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