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2016-02-29 — bloomberg.com
Investors had hoped the government would announce measures to bolster the economy over the weekend, according to JK Life Insurance Co., after People's Bank of China Governor Zhou Xiaochuan said on Friday there is room for more easing. There are also increasing signs funds are shifting from equities to housing, according to Steve Wang, chief China economist at Reorient Financial Markets Ltd.
"Investors feel disappointed over the lack of good news from the G-20, while the yuan has started to weaken again," Wang said in Hong Kong. "There are signs of panic buying in China's property market as prices in large cities continue to rise. A hazy economic outlook prompted some people to sell shares and buy homes, while many stocks remain overvalued."
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