China��s stock-index futures fell amid concern surging oil prices will hurt the economy. Losses for the benchmark index may be limited after new yuan loans and money supply topped estimates in May.
Futures on the CSI 300 Index expiring in June slipped 0.2 percent to 2,146.20 as of 9:20 a.m., before the release of economic data including industrial production today. Air China Ltd., the nation��s largest international carrier, may drop as crude oil headed for the biggest weekly gain this year.
The Shanghai Composite Index dropped 0.2 percent to 2,051.71 yesterday. It has advanced 1.1 percent this week, poised for the biggest weekly gain in two months.
The CSI 300 Index declined 0.3 percent to 2,153.41 yesterday. The Hang Seng China Enterprises Index fell 0.7 percent. The Bloomberg China-US Equity Index retreated less than 0.1 percent in New York.
Airlines may be active. Oil futures rose for a third day in New York after advancing 2 percent yesterday, the most in two months, as violence escalated across northern and central Iraq, OPEC��s second-biggest oil producer.
President Xi Jinping is building stockpiles as his nation clashes with Vietnam over resources in the South China Sea and faces potential risks to oil sales from Russia, Africa and the Middle East because of sanctions and violence. As China��s thirst for crude grows with the expansion of its emergency stockpiles and refining, the International Energy Agency estimates that the Asian nation is poised to surpass the U.S. as the world��s largest oil consumer by 2030.
Source : Bloomberg