Most of the world's markets are closed, but there are a few developments to note. First, a few Asian equity markets were in fact open and most posted small gains. The Shanghai Composite is an exception, slipping marginally (-0.05%), but the Shenzhen Composite rose (0.3%). Recall, China reportedly will reduce the required reserves for some "qualified" rural banks and this is expected to help small and medium sized businesses, which are more represented in the Shenzhen Composite. Second, China reported today that house prices in many cities are stabilizing. In Beijing house prices were up 10% from a year ago, which is ... (full story)