Families turning to realty as bourses lose luster, says survey

The proportion of Chinese households that have reaped profits from the stock market dropped significantly in the second quarter amid the market turmoil, a survey showed on Thursday.

The stock market pessimism has also led families to adopt an increasingly bullish view about the country's property market, said the survey conducted by the Southwestern University of Finance and Economics in Chengdu, capital city of Sichuan province.

Only 40.5 percent of the surveyed families said they made profits by trading stocks as of June 26 while the figure is 78.3 percent before the market peaked on June 12.