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Update: China: Stocks rise for third day as more companies resume trading
[SHANGHAI] China's stocks rose for a third day, led by technology and small-company shares, as more companies resumed trading. Large caps declined before trade data.
The benchmark index climbed 0.8 per cent to 3,906.94 at 9.47 am, with more than four stocks advancing for every one that declined. A total of 1,045 companies were suspended from trading at the open on mainland Chinese exchanges Monday, down from 1,453 at the close on Friday.
Imports probably fell 15.5 per cent in June from a year earlier, while exports may have risen one per cent, according to a survey of 36 economists. The trade data are set to be released at 10 am local time.
Margin traders increased holdings of shares purchased with borrowed money for the first time since the stock rout began in mid-June on Friday, with the outstanding balance of margin debt on the Shanghai Stock Exchange rising by 0.5 per cent from the previous day to 932.3 billion yuan (S$202.30 billion).
The CSI 300 Index advanced 0.6 per cent. Both Hong Kong's Hang Seng China Enterprises Index and the Hang Seng Index slid 0.9 per cent.