China's Beijing further relaxes home-buying curbs in property boost bid
Businesstimes News·- The Beijing municipal government announced further relaxation of home purchase restrictions on August 7 to support the sluggish housing market. - Non local residents are now required to pay income tax or social insurance for at least one year instead of two to buy homes citywide. - The policy also increases the housing provident fund loan caps up to 2.4 million yuan for double income families and provides additional subsidies for specific households.The three major A-share indices fluctuated and rose, with a rebound in large financials, a comprehensive adjustment in computing hardware, the Hang Seng Index rising over 2%, and tech stocks collectively surging
Wallstreetcn·- A shares experienced a broad adjustment in computing hardware stocks, while major indices rose, led by finance and real estate sectors. - NVIDIA's CEO announced their next-generation AI chip architecture, aiming for significant revenue by 2027. - The Hang Seng Index climbed over 1%, with notable gains in technology stocks and new energy vehicles.