Kontak Perkasa - Bloomberg (06/11) -- China’s stock-index futures fell.
November
futures on the CSI 300 Index slid 0.4 percent to 2,374.40 as of 9:17
a.m. in Shanghai. Anhui Jianghuai Automobile Co. may drop after
reporting a 35 percent decline in car sales in October. Tsingtao Brewery
Co. may slide after its Hong Kong shares were cut to underperform at
Jefferies Group LLC. China will maintain the stability and consistency
of its policies, the People’s Bank of China said in a report yesterday.
The
Shanghai Composite rose 0.4 percent to 2,157.24 yesterday, as
agricultural companies rallied on speculation the government will
introduce reforms to boost the industry. China’s top party officials
will meet in Beijing from Nov. 9-12 to map out a blueprint for reform as
the country heads for its slowest growth in more than two decades.
The
CSI 300 Index advanced 0.1 percent to 2,383.77 yesterday, while the
ChiNext rallied 3.1 percent and the Hang Seng China Enterprises Index
slid 0.5 percent. The Bloomberg China-US Index fell 1.3 percent to
102.52 yesterday.
The
Shanghai index has dropped 4.9 percent this year and trades at 8.5
times projected profits for the next 12 months, lower than the
seven-year average of 15.3, according to data compiled by Bloomberg.
Trading volumes for the index were 30 percent below the 30-day average
yesterday, data showed.
China’s
central bank reiterated that the country will pursue a prudent monetary
policy, according to a third-quarter report. China has problems with
property and local government debt, while consumer prices may accelerate
from year-ago levels, the central bank said.
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Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 9:35 AM
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