Market highlights

1 China's Ministry of Finance will cut home sale taxes, stepping up support for the property market. This comes after Beijing eased mortgage downpayment requirements to the lowest level ever earlier this month, Bloomberg said.

2 Oil prices fell to around US$31 in Asia yesterday after a sharp rise in US crude stockpiles and Saudi Arabia's rejection of proposed output cuts shot down a rally by the battered commodity, Agence France-Presse reported.

3 Property developer Oxley Holdings has incorporated a subsidiary in Australia, Oxley Australia Management. The incorporation is in line with the group's expansion plans.

4 Singapore Exchange-listed Tee Land chief executive officer Phua Chian Kin has bought 76,000 shares in the firm, spending $15,355.

5 Singapore Exchange-listed Yanlord Land has acquired a new subsidiary in Shenzhen for 300 million yuan (S$64.8 million) in a cash deal. The subsidiary will be engaged in property development.

A version of this article appeared in the print edition of The Straits Times on February 20, 2016, with the headline '1 2 3 4 5 Market highlights'. Print Edition | Subscribe