Bloomberg (26/12) -- China’s stock-index futures rose after money-market
rates fell for a third day and the government estimated economic growth
beat its estimates this year.Futures on the CSI 300 Index
expiring in January gained 0.1 percent to 2,317 as of 9:19 a.m. The
seven-day repurchase rate, a gauge of funding availability in the
banking system, slid 26 basis points to 5.32 percent. The yuan was
unchanged at 6.0714 per dollar, near the highest level in 20 years.The
Shanghai Composite Index climbed 0.6 percent to 2,106.35 yesterday,
with trading volumes 40 percent down from the 30-day average. The CSI
300 Index rose 0.7 percent to 2,305.11. U.S. and Hong Kong markets were
closed yesterday for the Christmas holidays, with the latter shut again
today.Trainmakers CSR Corp. and China CNR Corp. may advance
after the China Securities Journal said China may export trains to
Europe. Guangshen Railway Co., the operator of trains in China’s richest
province, may be active. Rail passenger trips during the Chinese lunar
new year holidays may rise about 8 percent from a year earlier to 258
million, Xinhua reported, citing China Railway Corp.’s forecast.China’s
economic growth this year is likely to come in at 7.6 percent, above
the government’s 7.5 percent target, the official Xinhua News Agency
reported, citing from report by the State Council, or the cabinet. The
government gave the estimate in a mid-term evaluation report on the
implementation of its 12th five-year plan, Xinhua said.The
statistics bureau is due to release industrial companies’ profits for
November tomorrow. Net income for the companies rose 15.1 percent in
October, down from 18.4 percent growth a month earlier.
