China’s stock-index futures rose after the Shanghai benchmark gauge had its biggest weekly gain in a month.
Futures
on the CSI 300 Index expiring in March added 0.4 percent to 3,631 as of
9:17 a.m. local time. PetroChina Co. and energy companies may be active
after crude prices in New York dropped to their lowest level in six
years.
The
Shanghai Composite Index climbed 0.7 percent to 3,372.91 on Friday,
taking last week’s increase to 4.1 percent. Premier Li Keqiang pledged
Sunday to protect job creation in China as the leadership presses ahead
with a “painful” push to cut corruption and waste by reducing the role
of the state.
The
CSI 300 Index added 0.7 percent. Hong Kong’s Hang Seng China
Enterprises Index advanced 1.3 percent and the Hang Seng Index gained
0.1 percent. The Bloomberg China-US Equity Index, the measure of the
most-traded U.S.-listed Chinese companies, slid 0.9 percent in New York
on Friday.
Policy
makers will take action if China’s growth, which the government
targeted at about 7 percent this year, drifts toward the lower limit of
its range and cuts into employment or wages, Li told reporters. While
stripping the government of some of its role in the world’s
second-largest economy may face resistance from vested interests, it is
crucial, he said.
Source : Bloomberg
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