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Muted Reaction To Latest Housing Headlines Out Of China

CROSS ASSET

Little in the way of meaningful cross-market reaction on the back of news that China’s financial regulator has urged local supervisory bureaus to set up special working groups with the focus of strengthening cooperation between local governments and housing departments. Headlines point to a particular eye on financing matters, with a need for banks to meet reasonable financing needs (that line is well-used by now). The headlines may have factored into the uptick in equities, but it isn’t being felt in oil futures, while USD/CNH edges away from session lows.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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