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SouFun, E-House, Leju soar following Chinese rate cuts

Nov. 21, 2014 10:23 AM ETFang Holdings Limited (SFUN) StockSFUN, EJ, LEJUBy: Eric Jhonsa, SA News Editor3 Comments
  • Chinese online real estate plays SouFun (SFUN +13.9%), E-House (EJ +10.9%), and Leju (LEJU +12.1%) are responding quite well to the PBOC's decision to respectively cut its benchmark lending rates and one-year deposit rate by 40 bps and 25 bps. The Shanghai exchange saw a 1.4% rally overnight.
  • All three companies had sold off this week in response to E-House/Leju's soft Q3 numbers and full-year guidance cuts.

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