Chinese stock-index futures rose as minutes from a Federal Reserve meeting signaled that the pace of U.S. rate increases will be gradual.
Futures on the CSI 300 Index expiring in December climbed 0.4 percent to 3,622.40 as of 9:20 a.m. local time. Technology stocks may move after the nation’s cabinet was cited by the Xinhua News Agency as saying the government will support targeted industries to upgrade their technology. China will guide private investment into industries such as light manufacturing, textiles, steel and construction materials, Xinhua reported Wednesday, citing a statement released after a meeting chaired by Premier Li Keqiang.
Fed minutes spurred a rally for global equities after officials said “it may well become appropriate” to raise rates in December and largely agreeing that the pace of tightening would be gradual. Traders are pricing in a 66 percent probability of a move — odds that shot up after a stronger-than-expected October jobs report on Nov. 6.