JPMorgan Chase & Co. said China’s weak property market may be at a turning
point, supporting potential outperformance of Chinese equities versus emerging
markets. Strategist Rajiv Batra noted spillovers from Hong Kong’s real estate
recovery and a delayed wealth effect from rising Chinese stocks are reviving
housing demand. March data showed slower declines in new-home prices and gains
in used-home prices across 13 cities, suggesting early signs of recovery after a
five-year correction.