Selasa, Oktober 20, 2015

China Stocks Rise to Two-Month High Before Economic Growth Data


China’s stocks rose to the highest level in almost two months before the release of economic growth data for the third quarter.
The Shanghai Composite Index advanced 0.2 percent to 3,397.23 at 9:36 a.m. local time, heading for the highest level since Aug. 21. China National Nuclear Power Co. surged 4.3 percent. The U.K. and China are set to announce a deal that will give the Asian nation a stake in Electricite de France SA’s Hinkley Point project, Britain’s first nuclear plant in three decades. China Coal Energy Co. paced declines for energy companies.
China’s gross domestic product probably expanded 6.8 percent in the July to Sept. quarter from a year earlier, the slowest pace since the first three months of 2009, according to a Bloomberg survey of economists. The GDP data, along with industrial production and retail sales, are scheduled for 10 a.m.
The Shanghai Composite surged 6.5 percent last week for the steepest weekly gain in four months as traders speculated the government will accelerate reforms of state-owned companies and data showed the nation’s broadest measure of new credit exceeded estimates. The market’s two-week rebound continued to lure back investors, with Friday’s trading volumes jumping to their highest level since Sept. 2 and margin debt advancing for a seventh day on Friday for the longest stretch of gains in two months.
Hong Kong’s Hang Seng China Enterprises Index slipped 0,1 percent on Monday after rising 2.2 percent last week. The Hang Seng Index lost 0.3 percent, while the CSI 300 Index increased 0.4 percent.

Updated at : Selasa, Oktober 20, 2015

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