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China Index Futures Advance Before Manufacturing Data, Holidays

Written By Kontak Perkasa Futures on Monday, September 30, 2013 | 10:18 AM

Bloomberg (30/9) -- China’s stock-index futures rose before the release of manufacturing data and a seven-day closure of the nation’s markets for holidays.

Futures on the CSI 300 Index expiring in October gained 0.7 percent to 2,411.20 at 9:19 a.m. local time. Shanghai International Port (Group) Co. and Shanghai Material Trading Co. may be active after the central government inaugurated the Shanghai free trade zone yesterday.

China State Construction Engineering Corp. may move after its controlling shareholder boosted its stake.

Companies with the word Shanghai in their names have led an 11 percent advance on the Shanghai Composite Index since June 27 on speculation they will benefit from the government’s plan to reduce regulation in the city’s free-trade area.

The benchmark measure has risen 9.1 percent this quarter, poised for the biggest increase since the three months ended September 2010. China’s markets will be shut Oct. 1-7 for National Day holidays.

The CSI 300 Index added 0.4 percent to 2,394.97 on Friday, while the Hang Seng China Enterprises Index slid 0.4 percent. The Bloomberg China-US Equity Index, a measure of the most-traded U.S.-listed Chinese companies, dropped 0.6 percent in New York.

A gauge of manufacturing compiled by HSBC Holdings Plc and Markit Economics may show a second consecutive month of expansion in September.

The reading for the Purchasing Managers’ Index, set for release at 9:45 a.m. local time today, may be 51.2, according to the median of 13 economists surveyed by Bloomberg. A reading above 50 indicates expansion.
Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 10:18 AM
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