The Shanghai Composite Index is poised to open higher before trade data as traders increased margin bets for the first time since last month and more companies prepared to resume trading.
The benchmark index climbed 1.1 percent to 3,918.99 at 9:27 a.m. Futures on the CSI 300 Index expiring in July, the most active contract, gained 0.1 percent.
The Shanghai index climbed 4.5 percent to 3,877.80 on Friday, capping a 5.2 percent gain last week. The CSI 300 Index declined 5.4 percent. With more than 1,300 companies halted on mainland exchanges on Friday, trading was limited to 53 percent of the market. More companies will resume trading in Shanghai and Shenzhen on Monday, the Shanghai Securities News reported, citing data compiled by its reporter.
Hong Kong Hang Seng China Enterprises Index advanced 3.6 percent. The Hang Seng Index gained 2.1 percent. The Bloomberg China-US Equity Index, the measure of the most-traded U.S.-listed Chinese companies, added 0.3 percent in New York.
Margin traders increased holdings of shares purchased with borrowed money for the first time since the stock rout began in mid-June on Friday, with the outstanding balance of margin debt on the Shanghai Stock Exchange rising by 0.5 percent from a day earlier to 932.3 billion yuan ($150 billion).
Imports probably fell 15.5 percent in June from a year earlier, while exports may have risen 1 percent, according to a survey of 36 economists. The trade data are set to be released at 10 a.m. local time.
Source : Bloomberg