China’s stock futures fell on concern over Europe’s debt crisis after Socialist Francois Hollande was elected president of France and after the Xinhua News Agency reported Industrial & Commercial Bank of China Ltd. suspended a discount on mortgages for first-time home buyers nationwide.
Futures on the CSI 300 Index (SHSZ300) expiring in May, the most active contract, lost 0.1 percent to 2,708.60 as of 9:19 a.m. local time. China Vanke Co. (000002) and Poly Real Estate Group Co. may lead declines for developers on speculation housing demand will weaken. China Petroleum & Chemical Corp. (600028), Asia’s biggest oil refiner, may drop after the Shanghai Securities News said fuel prices may be cut today.
Profit-booking pulls down Muscat shares
After the strong recovery in the past few sessions, the MSM 30 Index pulled back 0.56 per cent to close at 5,871.60 points. The MSM Sharia Index closed at 921.13 points, down by 0.18 per cent.