The Shanghai Composite
Index is poised to open higher before trade data as traders increased
margin bets for the first time since last month and more companies
prepared to resume trading.
The benchmark index
climbed 1.1 percent to 3,918.99 at 9:27 a.m. Futures on the CSI 300
Index expiring in July, the most active contract, gained 0.1 percent.
The Shanghai index
climbed 4.5 percent to 3,877.80 on Friday, capping a 5.2 percent gain
last week. The CSI 300 Index declined 5.4 percent. With more than 1,300
companies halted on mainland exchanges on Friday, trading was limited to
53 percent of the market. More companies will resume trading in
Shanghai and Shenzhen on Monday, the Shanghai Securities News reported,
citing data compiled by its reporter.
Hong Kong Hang Seng
China Enterprises Index advanced 3.6 percent. The Hang Seng Index gained
2.1 percent. The Bloomberg China-US Equity Index, the measure of the
most-traded U.S.-listed Chinese companies, added 0.3 percent in New
York.
Margin traders
increased holdings of shares purchased with borrowed money for the first
time since the stock rout began in mid-June on Friday, with the
outstanding balance of margin debt on the Shanghai Stock Exchange rising
by 0.5 percent from a day earlier to 932.3 billion yuan ($150 billion).
Imports probably fell
15.5 percent in June from a year earlier, while exports may have risen 1
percent, according to a survey of 36 economists. The trade data are set
to be released at 10 a.m. local time.
Source : Bloomberg
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