In an effort to jumpstart its slowing economy, the Chinese government has been easing its monetary policy.
Earlier this month, China's central bank cut interest rates for the second time in less than a month. And prior to that, the bank tried to spur growth by cutting the amount of money banks are required to hold in reserves, freeing up those funds in order to boost investment.
Those moves are already helping, as evidenced by the turnaround in China's real estate. The value of homes sold in China in June jumped 41% to 531.2 billion yuan, or $83 billion, as buying sentiment began to improve.
Plus, following nine straight months of decline, the average price of housing in 100 major Chinese cities also rose in June.
A mixture of accounting moves and rosy assumptions appears to harpooned JPMorgan's huge trading loss.
|Inside a high-tech San Francisco swinger's party|
|I have a fiancé, a girlfriend and two boyfriends|
|Winklevoss twins: Bitcoin will explode beyond $1 trillion|
|Are smart drugs driving Silicon Valley?|
|Microsoft sales soar for all its non-Windows products|