- 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.