China’s benchmark stock index is set to advance at the start of trading.
The
Shanghai Composite Index climbed ahead of the open, adding 0.3 percent
to 3,193.54 at 9:25 a.m. local time. The gauge has risen 4.3 percent
since financial markets resumed trading on Thursday. Consumer companies
may advance after restaurant, cinema and travel sales surged during the
“Golden Week” national holiday.
The
CSI 300 Index rose 1.3 percent. Hong Kong’s Hang Seng China Enterprises
Index advanced 1.2 percent. The Hang Seng Index gained 0.5 percent. The
Bloomberg China-US Equity Index, the measure of the most-traded
U.S.-listed Chinese companies, added 0.5 percent in New York.
China
will release export and consumer-price data on Tuesday and Wednesday
respectively. Overseas shipments probably dropped 6 percent last month
from a year earlier, while the inflation rate slowed to 1.8 percent,
according to the median estimates of Bloomberg surveys.
Sales
at restaurants and retailers amounted to 1.082 trillion yuan during the
Oct. 1 to 7 holiday, according to the Ministry of Commerce. That was an
11 percent jump from a year earlier.
The
Shanghai Composite has rebounded 8.7 percent since an August low after a
rout that erased almost $5 trillion. The index is valued at 12.3 times
12-month projected earnings, compared with the five-year average
multiple of 10.3, according to data compiled by Bloomberg.
Source: Bloomberg
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