Transactions of pre-owned homes in major Chinese cities led by Shanghai surged in March, fuelling expectations that the country’s embattled property sector may be stabilising. Analysts and brokers said a more active resale market pointed to a gradual return of confidence among homebuyers after a three-year downturn. In Shanghai, about 22,000 second-hand homes changed hands between March 1 and 23, up 170 per cent from the same period a month earlier, according to data from local financial outlet...