S&P raises 2016 China property forecast, sees prices up 5-10 percent

Standard & Poor's raised its forecast for China's property sales and prices on Wednesday, predicting they would rise by 5-10 percent this year on stronger-than-expected government support for the market, which has been dragging on the broader economy. S&P had previously forecast growth in property sales by value and average selling prices in 2016 would be flat to 5 percent this year. S&P sees moderate growth in property investment from rated developers this year, in contrast to natio