CITIGROUP raises PT on Cisco (CSCO.O) to $139 from $112.

Housing consumption has risen to the top of big-ticket spending, and multiple major property-market cities are preparing measures to boost housing demand. Chengdu is designing sales policies focused on optimizing supply, stimulating demand, reducing inventory and stabilizing expectations; measures remain under internal review and will be published once finalized. Hefei, aligning with national policy direction, is coordinating with relevant departments on an action plan to promote cross-sector linkage to support consumption. Wuhan is building a policy toolkit for H2 aimed at linking primary and secondary markets, accelerating commercial/office destocking (including conversions), and increasing supply of higher-quality housing. Nanjing plans timely policy tweaks to expand listings of diversified “good homes” and run trade-in-for-new programs to unlock rigid and upgrade demand. Hangzhou, Qingdao, Chongqing and Jinan say they are keeping policy reserves and will dynamically adjust measures to stabilize the real estate market.

Market sources: the UK government’s latest sanctions target Russian vessels and companies, including banks and industrial groups.