Some property companies recovered from losses brought about by fear of further tightening in the housing market: Poly Real Estate Group added 1.4% and China Merchants Property Development rose 1.6%.

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Poly Real Estate Group plummeted 10%, the maximum allowed for one day.

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As a cofounder of Poly Real Estate Group, Zhang owns over 200 million shares in the company, which is one of the main sources of his wealth.

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