China’s stock-index futures rose after President Xi Jinping announced details of his Silk Road plan, and the central bank said the nation’s growth rate has tumbled “a bit” too much and policy makers have scope to respond.
Futures on the CSI 300 Index expiring in April, the most active contract, advanced 1.2 percent to 4,013.40 as of 9:25 a.m. local time. The Shanghai Composite Index added 0.2 percent to 3,691.10 on March 27, taking its quarterly gain to 15 percent. The CSI 300 Index rose 0.6 percent. Hong Kong’s Hang Seng China Enterprises Index slipped for a fourth day, losing 0.2 percent, while the Hang Seng Index was little changed. The Bloomberg China-US Equity Index jumped 1 percent.
Zhou’s remarks follow signs that China slowed further in the first quarter, after recording its weakest expansion since 1990 last year. The economy expanded 6.28 percent in February from a year earlier, Bloomberg’s monthly growth tracker shows, and the government’s official factory reading due Wednesday likely worsened, according to economists surveyed by Bloomberg.
Source : Bloomberg