China’s stock-index futures advanced as mainland markets traded for the first time since Wednesday.
Contracts
on the CSI 300 Index gained 2.5 percent at 9:17 a.m. local time. The
Hang Seng China Enterprises Index slumped 1.4 percent to a two-year low
on Friday. Mainland bourses have been closed for holidays.
China
worked to soothe concern over its economy at the Group of 20 gathering
in Turkey at the weekend, with officials predicting stabilization in the
currency and stock markets in the coming weeks. People’s Bank of China
Governor Zhou Xiaochuan said in a statement that the rout in Chinese
equities is close to ending, and that state intervention prevented
systemic risk and stopped a free-fall.
China
WILL deliver an update on its foreign-currency reserves as soon as
Monday, providing investors with some idea of how much has been spent by
regulators to shore up local markets and the yuan.
The
China Financial Futures Exchange on Wednesday moved to limit trading of
stock-index futures by lowering the bar for “abnormal trading” and
increasing margin requirements and settlement fees.
Source: Bloomberg
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