China Stocks Fluctuate as Coal Shares Drop, Tech Companies Gain

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Chinese stocks swung between gains and losses as declines by energy companies overshadowed gains by telecommunication firms.

China Coal Energy Co. paced declines by coal companies. Fiberhome Telecommunication Technologies Co. added 2.5 percent.

The Shanghai Composite Index rose 0.1 percent to 2,029.59 as of 9:45 a.m. local time after falling 0.3 percent earlier. The CSI 300 Index advanced 0.3 percent to 2,162.17. Markets in Hong Kong are closed today.

UBS AG cut its forecast for China��s 2014 economic growth to 7.3 percent from 7.5 percent, and that for next year to 6.8 percent from 7.0 percent, Wang Tao, an economist at the Swiss bank, wrote in an e-mailed research note. Wang cited weaker property activity for the lower estimates and said the government will probably take steps to ease property curbs.

A gauge tracking telecommunication companies gained 1.2 percent, taking its quarterly advance to 2.3 percent.

Source : Bloomberg

Asian Stocks Advance as Regional Holidays Curb Trading Volume

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Asian stocks rose, with trading volume curbed by holidays in Japan, Hong Kong and South Korea. Genting Singapore Plc and Australia��s Leighton Holdings Ltd. climbed after reporting earnings.

The MSCI Asia Pacific excluding Japan Index advanced 0.1 percent to 474.94 at 11:31 a.m. in Sydney, with eight of the 10 industry groups on the gauge rising. Futures on the Standard & Poor��s 500 Index added 0.2 percent.

Federal Reserve Chair Janet Yellen is due to testify to lawmakers May 7 after the U.S. central bank pressed ahead April 30 with reductions to its monthly bond-buying, while holding its short-term interest-rate target at near zero.

Australia��s S&P/ASX 200 Index added 0.3 percent today ahead of a central-bank decision on interest rates. Volume was 27 percent below its 30-day average. The Reserve Bank of Australia will keep its benchmark interest rate at a record-low 2.5 percent today, according to all 33 economists surveyed by Bloomberg.

Source : Bloomberg

China Stock Futures Little Changed; Developers May Be Active

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China��s stock-index futures were little changed after benchmark gauges rose for three days.

Futures on the CSI 300 Index expiring in May added 0.1 percent to 2,155.40 as of 9:16 a.m. local time. NavInfo Co. may be active after Tencent Holdings Ltd. said it will buy a stake. Shanghai state-owned enterprises may move after the Shanghai Securities News said the city��s government may release a plan to reform more than 50 of those companies. Developers may be active after Credit Suisse Group AG said it expects their stocks to decline amid a downturn in the property market.

The Shanghai Composite Index added 0.1 percent to 2,027.35 yesterday. The CSI 300 Index declined 0.1 percent to 2,156.47. The Bloomberg China-US 55 Index, the measure of the most-traded U.S.-listed Chinese companies, retreated 0.5 percent in New York. Markets in Hong Kong are closed today.

Source : Bloomberg

U.S. Stocks Advance as Services Data Offset Declines Among Banks

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U.S. stocks rose, after benchmark indexes climbed to records last week, as an expansion in American service industries offset concern over growth in China and political tensions in Ukraine.

The S&P 500 added 0.2 percent to 1,884.64 at 4 p.m. in New York, after dropping as much as 0.8 percent earlier.

Investors pulled $2.66 billion last week out of exchange-traded funds that invest in U.S. equities, data compiled by Bloomberg show. Technology-focused ETFs saw withdrawals of $1.5 billion, the most among 12 sectors tracked by Bloomberg. Energy and utility funds attracted the biggest inflows, with deposits each totaling more than $400 million, the data show.

U.S. stocks rose last week, with the Dow average reaching an all-time high, as earnings topped forecasts and the Federal Reserve said it would further trim bond purchases as the economy gains momentum. The S&P 500 added 1 percent, taking its gain this year to 1.8 percent. The benchmark gauge briefly climbed above its highest closing price on May 2, as data showed U.S. payrolls rose the most since 2012.

Source : Bloomberg

U.S. Stocks Little Changed as Services Data Offset Banks Decline

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U.S. stocks were little changed, after benchmark indexes climbed to records last week, as an expansion in American service industries offset concern over growth in China and political tensions in Ukraine.

The S&P 500 added 0.1 percent to 1,882.27 at 12:48 p.m. in New York, after dropping as much as 0.8 percent earlier. The Dow Jones Industrial Average fell 1.25 points, or less than 0.1 percent, to 16,511.64. The Nasdaq Composite Index rose  0.1 percent. Trading in S&P 500 stocks was 26 percent below the 30-day average during this time of the day.

Investors pulled $2.66 billion last week out of exchange-traded funds that invest in U.S. equities, data compiled by Bloomberg show. Technology-focused ETFs saw withdrawals of $1.5 billion, the most among 12 sectors tracked by Bloomberg. Energy and utility funds attracted the biggest inflows, with deposits each totaling more than $400 million, the data show.

Source : Bloomberg