Chinese Stock-Index Futures Drop After S&P Cuts Rating Outlook
- S&P reduces credit outlook to negative, joining Moody's action
- Sinopac Securities, Natixis forecast limited market reaction
China Rating Outlook Cut to Negative From Stable at S&P
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Chinese stock-index futures fell after Standard & Poor’s cut the outlook for the nation’s credit rating to negative.
The FTSE China A50 April futures dropped 0.7 percent at 5:22 p.m. in Singapore, compared with a gain of 0.2 percent before the S&P move. Hang Seng Index futures slipped 0.1 percent. China’s money and equity markets were shut before the announcement, which follows a similar move by Moody’s Investors Service earlier this month.