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SoFun (SFUN) Stock Pushed Higher by Rallying China Markets

NEW YORK (TheStreet) -- SoFun Holdings (SFUN - Get Report) shares closed Monday's trading session up 1.24% to $7.33 due to China markets' strong performance.

Markets in China were boosted by central bank's decision to "inject liquidity into the struggling economy," Reuters reports.

Essentially, banks' lending abilities will be helped through a pilot gram.

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In addition, the central bank said that the stock market's correction is "almost over," easing concerns.

The Hang Seng Index closed Monday's trading session up 1.2%, along with the Shanghai Composite Index, which closed up 3.3%, the Wall Street Journal said.

"The market has widely interpreted the move as China's version of quantitative easing," said Jacky Zhang, an analyst at BOC International.

Based in Beijing, SouFun Holdings Limited operates a real estate Internet portal, and home furnishing and improvement websites in the People¿'s Republic of China.

Separately, TheStreet Ratings team rates SOUFUN HLDGS LTD as a Hold with a ratings...


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