Chinese regulators rush to tame investor panic over mortgage boycotts
Chinese regulators are trying to stamp out panic over rising home loan risks at banks as a wave of homeowners join a country-wide mortgage boycott of unfinished houses.
Hundreds of thousands of buyers have halted mortgage payments on more than 200 unfinished property projects in China this week, aggravating a property sector crisis that has dragged down economic growth.
The CSI 300 Banks index fell as much as 3.3 per cent on Thursday to its lowest level since March 2020 on signs that the boycott was gaining traction. Bank share performance was mixed on Friday, with some stocks extending losses despite statements intended to reassure investors.
沪深300银行指数(CSI 300 Banks index)周四一度下跌3.3%，至2020年3月以来的最低水平，原因是有迹象表明，停贷潮愈演愈烈。周五银行股表现喜忧参半，一些股票的跌幅扩大，尽管银行发出了意在安抚投资者的公告。