"China's Property Stocks Plunge, Asia Market Declines"

Asian markets declined as China's property stocks plunged, leading to a drop in the Chinese market, while Japan's service inflation reached a 45-month high. China's industrial profits continued to shrink in November, but at a slower pace, indicating an uneven post-pandemic recovery. The Beijing Stock Exchange has asked major shareholders of listed companies not to reduce holdings to maintain market excitement. Hong Kong-listed China property stocks fell amid an investigation into debt-laden Chinese shadow bank Zhongzhi Enterprise Group. Japan's Sumitomo Mitsui Financial Group CEO Jun Ohta passed away at 65. Japan's services inflation rate hit a 45-month high in October.