Chinese stock-index futures rose before industrial production data. Retailers will be a focus on Singles’ Day, the biggest shopping event of the year.
Futures on the CSI 300 Index expiring in November, the most active contract, climbed 0.3 percent to 3,789 as of 9:24 a.m. local time. Beijing Wangfujing Department Store Group Co. may lead gains for retailers. BYD Co. may decline after the automaker said its $2.4 billion private share placement will reduce earnings per share.
The Shanghai Composite Index dropped 0.2 percent to 3,640.49 on Tuesday, halting a four-day, 10 percent winning streak, as slower-than-forecast inflation increased concern demand is weakening in the world’s second-biggest economy.
Factory output probably expanded 5.8 percent in October from a year ago, quickening from September’s 5.7 percent gain, according to the median estimate in a Bloomberg survey. Retail sales are projected to advance 10.9 percent from a year before, in what would be the best back-to-back monthly performance so far this year. The data are scheduled to be released at 1:30 p.m.
President Xi Jinping said China will speed up reforms to boost economic growth, including stepping up policies to improve the efficiency of the nation’s bloated state-owned companies. China should accelerate moves to supervise the stock market and protect investors, the official Xinhua News Agency reported him as saying at a meeting Tuesday.
Source : Bloomberg