Shares in Chinese real estate companies getting hammered

China’s benchmark Shanghai composite index is under pressure again in afternoon trade, and a short time ago was down almost 3% for the week. Those falls pale in comparison to the CSI300 real estate index, which has been absolutely crushed amid the broader market selloff. The broader CSI300 index is comprised of the largest 300 companies across China’s two stock indexes in Shanghai and Shenzhen.Shares in listed Chinese real estate companies have slumped by more than 13% this week. China’s currency is also under pressure, with the yuan falling to its lowest level against the US dollar since December 2016.