Purchases of US property by investors from China, Hong Kong and Taiwan combined surged 27% to $6.1 billion in the year to March, and six out of 10 paid in cash, the SCMP reported.

Officials say penalty will mark end of year-long probe into group's operations, cybersecurity practices and handling of personal data. Didi would then be able to list in Hong Kong, report says.

The drop was triggered by concerns over future outbreaks of Covid-19 and the risk they pose for new lockdowns, as well as rising costs, S&P Global Market Intelligence said.

Despite few signs of a cholera outbreak in Wuhan, netizens worried about another disease outbreak made this issue a hot topic on China's Twitter-like Weibo on Friday, with 200 million reads

The US successfully tested two hypersonic missiles this week, the Pentagon said, revealing it is making greater headway after advances by China and Russia

``If there comes a massive wave of home auctions, prices will crash,'' said Gavekal Dragonomics. "Both social stability and financial stability will be endangered in the worst case."