China’s Stock-Index Futures Drop After Inflation, Economic Data

China’s stock-index futures fell after economic reports over the weekend including inflation.

Futures on the CSI 300 Index  expiring in November lost 0.2 percent to 2,310 as of 9:22 a.m. local time. China Vanke Co. and Poly Real Estate Group Co. may decline among developers on concern the government is strengthening measures to rein in the property market. Suning Commerce Group Co., an online retailer, may advance as consumers look to the Internet for bargains on Singles’ Day, one of China’s biggest shopping days of the year.

The Shanghai Composite Index  dropped 1.1 percent to 2,106.13 on Nov. 8, capping a 2 percent decline last week. Industrial output rose 10.3 percent from a year earlier in October, according to data released Nov. 9 by the National Bureau of Statistics. Inflation was 3.2 percent last month, producer prices fell 1.5 percent from a year earlier and retail sales rose 13.3 percent.

The CSI 300 Index declined 1.4 percent to 2,308 on Nov. 8. The Hang Seng China Enterprises Index  retreated 0.8 percent. The Bloomberg China-US Equity Index added 1.1 percent in New York.

The Shanghai index has dropped 13 percent from this year’s high set on Feb. 6 on concern economic growth will slow in the fourth quarter. The measure trades at 8.4 times projected profit for the next 12 months, compared with the seven-year average of 15.3, according to data compiled by Bloomberg. The

China’s economy entered the final quarter of 2013 with an acceleration in manufacturing and exports, momentum that offered confidence to Communist leaders gathering to determine policy shifts for the coming decade.

(Source: Bloomberg)