Chinese stock-index futures rose before the release of manufacturing data that will give further clues on the strength of the world’s second-biggest economy.
CSI 300 Index futures for May delivery, the most active contract, climbed 0.7 percent at 9:17 a.m. local time in Shanghai, while FTSE China A50 futures for April added 0.7 percent in Singapore. Dongfang Electric Corp. may be active after the Xinhua News Agency reported China is expected to start constructing up to eight nuclear power reactors this year. Sands China Ltd. may drop in Hong Kong after the Macau casino operator reported first-quarter profit fell 43 percent.
The Shanghai Composite Index rose 2.4 percent to 4,398.50 on Wednesday, taking gains in the past six months to 87 percent, the most among benchmark indexes globally, as the government lowered borrowing costs to aid growth. The CSI 300 Index advanced 2.6 percent. The Hang Seng China Enterprises Index rose 1 percent, while the Hang Seng Index added 0.3 percent. The Bloomberg China-US Equity Index increased 1.6 percent.
HSBC Holdings Plc and Markit Economics’ manufacturing purchasing managers’ index, known as the flash PMI, probably stayed at 49.6 for a second month in April, according to the median estimate of Bloomberg surveys. The data are scheduled for 9:45 a.m. A reading below 50 signals contraction.
The People’s Bank of China eased monetary policy last weekend, cutting lenders’ reserve-ratio requirements for a second time this year after a report showed the slowest economic growth in six years. Gross domestic product expanded 7 percent in the three months through March from a year earlier, while industrial production in March rose at the slowest rate since November 2008.