Is China's property index sending a message?

FXStreet (Bali) - In a relatively quiet Asian session, picking relevant headlines among all the noise becomes an arduous task; however, one development worth noting is the rally seen in the Shanghai Composite property sub index, up over 3.5% in early trade, building on yesterday's +2.9% gains. The rally reflects the that some circles within the property industry may still expect the possibility of further stimulus in China to be announced soon. Earlier on the session, hopes of new stimulus by China were dashed, when China Securities Journal front page editorial said there is no much room for China to loosen monetary policy.