Survey shows households leaving stock market for real estate investment

Preliminary results show 31.5% of respondents to the China Household Finance Survey planning to reduce their stock holdings, The Wall Street Journal reported. The quarterly phone survey of 28,140 people was conducted shortly after the market peaked from June 15 to July 2 by researchers at the Southwestern University of Finance and Economics in Chengdu, and found that in the second quarter 4.8% of stock investors bought homes compared to 2.3% in the first quarter. Of those who bought property, 70% came from households that had made money in the stock market. Only 12.3% said they planned to increase their stock holdings.