China’s stock-index futures rose after the Shanghai benchmark gauge had its biggest weekly gain in a month.
Futures on the CSI 300 Index expiring in March added 0.4 percent to 3,631 as of 9:17 a.m. local time. PetroChina Co. and energy companies may be active after crude prices in New York dropped to their lowest level in six years.
The Shanghai Composite Index climbed 0.7 percent to 3,372.91 on Friday, taking last week’s increase to 4.1 percent. Premier Li Keqiang pledged Sunday to protect job creation in China as the leadership presses ahead with a “painful” push to cut corruption and waste by reducing the role of the state.
The CSI 300 Index added 0.7 percent. Hong Kong’s Hang Seng China Enterprises Index advanced 1.3 percent and 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, slid 0.9 percent in New York on Friday.
Policy makers will take action if China’s growth, which the government targeted at about 7 percent this year, drifts toward the lower limit of its range and cuts into employment or wages, Li told reporters. While stripping the government of some of its role in the world’s second-largest economy may face resistance from vested interests, it is crucial, he said.
Source : Bloomberg