Five Things You Need to Know to Start Your Day: Asia

Chinese cities ease homebuying rules. Hong Kong is flooded with assets at fire sale prices. Japanese stocks are set to slump on Ishiba win. Here’s what you need to know today.

Three of China’s largest cities eased rules for homebuyers, following through on the central government’s latest efforts to prop up the embattled property sector. Trading hub Guangzhou became the first tier-1 city to remove all restrictions, saying it will stop reviewing homebuyer eligibility and no longer limit the number of homes owned. Shanghai and Shenzhen said they will allow more people to purchase residences in suburban areas and allow others to buy more homes. The moves came as the central bank said it would cut mortgage rates for millions of families. Here’s how Xi’s big week of stimulus aimed to draw a line under China’s slowdown.