China Stock-Index Futures Surge in Singapore as Trading Resumesby
Chinese stock-index futures rallied in Singapore as trading resumed after a week-long holiday.
Contracts on the FTSE China A50 futures surged 6.7 percent at 9:09 a.m. local time. The Hang Seng China Enterprises Index jumped 11 percent in Hong Kong during the mainland holiday, led by a 25 percent surge in Great Wall Motor Co. after the government cut a tax on passenger-vehicle purchases. PetroChina Co., which has the largest weighting on the Shanghai Composite Index, surged 17 percent over the period as oil prices jumped and global investors pushed back estimates for when the U.S. will raise borrowing costs.