China’s Stock-Index Futures Fall on PMI Contraction, Minsheng

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China’s Stock-Index Futures Fall on PMI Contraction, Minsheng


PT. Equityworld Futures – China™s stock-index futures fell after an official manufacturing gauge signaled the first contraction in more than two years and China Minsheng Banking Corp. President Mao Xiaofeng resigned amid a media report that he is being investigated by authorities.

Futures on the CSI 300 Index expiring in February declined 2.5 percent to 3,370 as of 9:17 a.m. The Shanghai Composite Index slid 1.6 percent to 3,210.36 on Jan. 30, extending last week™s loss to 4.2 percent, the most since December 2013, amid concern regulatory scrutiny of margin lending and tepid economic growth will curb the benchmark index™s world-beating rally.

China™s outstanding margin debt dropped for the first time in eight days on Jan. 30 in Shanghai, according to data from the city™s bourse. It dropped 0.5 percent to 773.98 billion yuan ($123 billion) from a record 777.6 billion yuan on Jan. 29.

Hong Kong™s Hang Seng China Enterprises Index fell 0.1 percent on Jan. 30, taking last week™s decline to 4.4 percent. The CSI 300 Index slipped 1.4 percent, while the Hang Seng Index dropped 0.4 percent. The Bloomberg China-US Equity Index, the measure of the most-traded U.S.-listed Chinese companies, retreated 1.6 percent in New York.

The government™s Purchasing Managers™ Index fell to 49.8 last month from 50.1 in December, missing the median estimate of 50.2 in a Bloomberg survey of analysts and below the 50 level separating expansion and contraction.

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