The CSI 300 equity index is up 59.11 (+1.67%) at 3596.60.
From Bloomberg, March 31:
A private measure of China’s manufacturing activity expanded in March, signaling that the industrial side of the economy is stabilizing.
The Caixin manufacturing purchasing managers index rose to 51.1, the highest in more than a year. That was up from 50.9 in February and compared to the figure of 51 predicted by economists. A reading above the 50 mark suggests expansion from the previous month, while a figure below that denotes contraction.
The official manufacturing PMI gauge released Sunday showed activity expanded last month for the first time since September, adding to signs the economy is stabilizing. The private survey, which covers mainly smaller and export-oriented businesses, is usually more upbeat than the official readings.
Read More: China Seen Delivering More RRR Cuts This Year to Boost Economy
China’s manufacturing sectors appear to have started strong in 2024, reducing pressure on policymakers to stimulate the economy after they did so late last year. Industrial output rose 7% in January-February from the same period a year earlier, the National Bureau of Statistics said earlier, the fastest growth in two years and significantly topping estimates....
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