China’s stock-index futures rose, signaling further gains for the nation’s equities as the Shanghai Composite Index approached the 4,000 level for the first time since 2008.
Futures on the CSI 300 Index expiring in April, the most active contract, added 0.2 percent as of 9:18 a.m. local time. The Shanghai Composite surged 2.5 percent to 3,961.38 on Tuesday. The CSI 300 Index rose 2.2 percent. The Bloomberg China-US Equity Index added 0.7 percent in New York. Hong Kong’s stock market resumes trading today after a three-day holiday.
The Shanghai gauge has jumped 92 percent over the past year, the best performing major global index among 93 measures tracked by Bloomberg, amid speculation the People’s Bank of China will further ease monetary policy after cutting interest rates twice since November and lowering reserve-requirement ratios of lenders once.
China will start to release March economic data on April 10, starting with inflation. Consumer prices probably rose 1.3 percent, slowing from a 1.4 percent gain in February, while producer prices may have declined 4.8 percent, unchanged from the previous month, according to the median estimate of a Bloomberg survey.
Source : Bloomberg