China’s stock-index futures advanced as mainland markets traded for the first time since Wednesday.
Contracts on the CSI 300 Index gained 2.5 percent at 9:17 a.m. local time. The Hang Seng China Enterprises Index slumped 1.4 percent to a two-year low on Friday. Mainland bourses have been closed for holidays.
China worked to soothe concern over its economy at the Group of 20 gathering in Turkey at the weekend, with officials predicting stabilization in the currency and stock markets in the coming weeks. People’s Bank of China Governor Zhou Xiaochuan said in a statement that the rout in Chinese equities is close to ending, and that state intervention prevented systemic risk and stopped a free-fall.
China WILL deliver an update on its foreign-currency reserves as soon as Monday, providing investors with some idea of how much has been spent by regulators to shore up local markets and the yuan.
The China Financial Futures Exchange on Wednesday moved to limit trading of stock-index futures by lowering the bar for “abnormal trading” and increasing margin requirements and settlement fees.