Banks send out a strong signal on the property market

Some of the UK's major banks, including HSBC, have been selling off their expensive headquarters in order to lease them back. Could this be a sign that we've reached a property market top?

In the main, these last two weeks, stock markets have done little more than consolidate; that is, excepting the Chinese market where there has been very considerable weakness.

Two weeks ago we suggested that Chinese investors may well take the opportunity then, because the Shanghai A market had regained its earlier high, to bail out. Action since suggests that is exactly what has happened, with a double top clearly in place as a result. Foreigners, who are not permitted to purchase the Shanghai A stocks but instead can buy the Shanghai B stocks, have continued to be big sellers. since its high on the 22nd May, it is now down 33.3%.

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