Markets rally as China steps up support for economy and Country Garden strikes debt deal – as it happened

Rolling coverage of the latest economic and financial news, as stocks rally as Country Garden agrees extension to its onshore debt payments

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Home sales in two of China's biggest cities have soared over the last few days after mortgage rules were relaxed, Bloomberg reports.

It's an early sign that government efforts to cushion a record housing slowdown is helping.

We were surprised by the strong pick up in Beijing and Shanghai, despite the challenging economy."