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Stock impact report

China Weighs New Property Stimulus Package as Crisis Lingers [Yahoo! Finance Canada]

Morningstar, Inc. (MORN) 
Most Read from Bloomberg The plan has been under discussion since at least the third quarter, as the housing market's slump in sales and prices deepened, said the people, adding that the timing and specific policies to be implemented are still uncertain. “The relaxation of fiscal policy is in line with our previous expectations, and reducing taxes and fees will moderately boost home buying activities,” said Jeff Zhang, a property equity analyst at Morningstar Inc. “We believe that the confidence of homebuyers still needs further stabilizing property prices to recover.” A gauge of Chinese developer stocks reversed losses to rise as much as 3.3% following the news, heading for its biggest jump in two months. China has been trying to put a floor under its four-year real estate downturn, which has weighed on everything from household wealth to consumption and employment. While the housing sector picked up modestly after the government stepped up support about a year ago, the mome Show less Read more
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