Option Millionaires

[uranium-pinto-beans]

China eased mortgage lending policies
China eased mortgage lending policies to help prop up the flagging real estate sector, which has weighed on the economy more broadly. The PBoC allowed commercial banks to lower the minimum down-payment requirement for second home buyers and those with outstanding mortgages to 40% from 60%. The Finance Ministry also exempted individuals from paying business taxes on a home sale if they owned for a minimum of two years rather than the five required previously. Chinese banking stocks rallied and the news fueled a 0.6% gain in the Shanghai Comp overall (below opening highs), while China property sector stocks rallied over 3.0% on the news