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.
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