First to Downgrade Evergrande 3 Yrs Ago, UBS's John Lam Now Turns Positive on China Property

Bloomberg reported that John Lam, head of China and Hong Kong property research at UBS, said his view of China's property market has turned positive and expects a gradual recovery. Lam was the first to downgrade $EVERGRANDE(03333.HK)$ to Sell 3 years ago, 11 months before its debt default, which shocked the market at the time. According to the report, Lam predicted that market demand and supply may return to historical averages next year, supported by a number of boosting measures from the Chinese government. UBS has already upgraded several Chinese developers, including upgrading $LONGFOR GROUP(00960.HK)$ .