China’s
benchmark stock index swung between gains and losses as traders weigh
the start of the subscription period for initial public offerings and an
International Monetary Fund meeting to decide whether to grant
reserve-currency status to the yuan.
The
Shanghai Composite added 0.2 percent to 3,443.59 at 9:45 a.m. local
time, erasing a loss of as much as 0.4 percent. The gauge posted its
biggest loss in three months on Friday after some of the nation’s
largest brokerages disclosed regulatory probes, industrial profits fell
and concern grew new IPOs will lure funds away from existing shares.
Haitong Securities Co. led declines for brokerages on Monday, slumping
9.5 percent as shares resumed trading. Power producers advanced, with
China Yangtze Power Co. gaining 2.3 percent.
Hang Seng Index -0.7% to 21,919.53, trading at lowest since Oct. 6 and headed for 3.2% drop for the month.
Source: Bloomberg
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