The PBOC will also reduce mortgage rates by 50bp, lower the down payment ratio for second homes, and explore options for banks to purchase land from developers. Additionally, an RMB 500bn liquidity program for non-bank financial institutions and a re-lending initiative for share buybacks were announced.
Short-term market weakness likely; defensive sectors poised to outperform: Rohit Srivastava
Rohit Srivastava suggests the recent market rally from early April might be ending, entering a corrective phase influenced by geopolitics and the upcoming FOMC meeting.