China’s stocks were little changed as the benchmark index erased an advance before the release of industrial production data.
Neusoft Corp. leds gains for technology companies after it said Goldman Sachs Group Inc., Hony Capital and other investors agreed to invest in its health-care businesses. China Eastern Airlines Co. and Cosco Shipping Co. slumped at least 2 percent after rallying 10 percent yesterday on lower oil prices. Data later today will show industrial production probably expanded 7.5 percent last month, according to estimates compiled by Bloomberg, slowing from October’s 7.7 percent gain. The data follow a report earlier this week that showed the inflation rate and producer prices dropping more than forecast.
The Shanghai Composite Index (SHCOMP) slipped 0.1 point to 2,925.64 at the 11:30 a.m. break, extending this week’s loss to 0.4 percent. The index has climbed 17 percent in the past month amid speculation the central bank will cut reserve-requirement ratios to support an economy heading for its weakest annual expansion since 1990. China cut its growth target for next year at the end of a policy-setting meeting, China Business News reported.
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