Mumbai, Feb. 2 -- Shanghai Composite index slumped 2.50% as property market worries weighed. Overall sentiments in Asian markets were tepid as Hong Kong's Hang Seng index lost 2.20%. With this slide, the Shanghai Composite index has slipped near four-week low. China's years-long property downturn has carried into 2026, with new-home sales sliding sharply. The country's top 100 developers reported combined contracted sales of 165.5 billion yuan (US$24 billion) in January, down 27 per cent from a year earlier, according to data released over the weekend by China Real Estate Information Corporation (CRIC).

However, economic cues are supportive. Business conditions in China's manufacturing sector continued to improve at the start of 2026, ac...