Modest Uptick On Latest China Property Support Headline Flow

E-minis have nudged higher in the wake of the previously alluded to BBG source report which suggested that “China is planning to relax restrictions on developer borrowing, dialing back the stringent “three red lines” policy that exacerbated one of the biggest real estate meltdowns in the country’s history.” The 3 major contracts are 0.4-0.5% above settlement levels, with the NASDAQ 100 contract leading the bid, although they are nowhere near fully reversing Thursday’s losses. Note that the Hang Seng is back from the highs that came on the back of the same headlines, although the CSI has held onto its own related uptick. Both of those indices are less than 1% firmer on the day.