China™s stock-index futures rose amid speculation the benchmark gauge™s biggest two-day loss in 18 months was excessive.
Futures on the CSI 300 Index expiring in January, the most active contract, gained 0.9 percent to 3,277.40 as of 9:16 a.m. China Communications Construction Co. and other infrastructure companies may move after the government said it will boost financial support for domestic companies to develop business overseas. Energy producers may drop on lower crude oil prices.
The Shanghai Composite Index dropped 2 percent to close at 2,972.53 yesterday. It has lost 5 percent over the past two days on speculation the government will take actions to cool rapid gains in equity prices. Hong Kong™s stock market is closed today and tomorrow for the Christmas holidays. The Hang Seng China Enterprises Index fell 1 percent to 11,558.02.
The CSI 300 Index declined 2.8 percent. 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, retreated 0.6 percent in New York.
Source : Bloomberg