China Stocks Set to Drift Ahead of May Data
The China market may be due for more listless trading ahead of May economic data (due for release Saturday June 9).
The benchmark Shanghai Composite edged up 0.05 percent to 2,373.44 on Friday, ending the week 1.71 percent higher.
Eight ministries including the Ministry of Finance and Ministry of Commerce issued a joint notice that states "China will launch the pilot to let foreign companies list on domestic bourses at the appropriate time", while this may trigger concerns of investors switching to the International Board, analysts point out the absence of the securities regulatory commission's endorsement may mean the International Board is not yet ready.
Stocks to Watch:
The firm says it as not received any written cancellation from Iran Water & Power for its $2 billion hydropower project. The statement is in response to reports last week that Tehran had cancelled the contract.
—By Cheng Lei, CNBC Asia Pacific