China Stocks Gain Amid Strong PMI Data
The Shanghai Composite rose 0.6% to surpass 3,350, while the Shenzhen Component edged up 0.4% to 10,550 on Tuesday, with mainland stocks rebounding after a two-day decline as investors reacted positively to strong factory activity data.
A private survey showed that Chinese manufacturing expansion accelerated more than expected in March, reaching a four-month high amid robust external demand. Total new orders grew for the sixth consecutive month, while new export orders recorded their fastest expansion in nearly a year.
However, investor sentiment remained cautious as markets awaited the implementation of US President Donald Trump’s reciprocal tariffs, which are expected to further impact China’s export-driven economy. Growth-oriented stocks led the gains, with notable performances from Sungrow Power (4.6%), Jiangsu Hengrui (4%), Kunshan Kinglai (5.6%), Cambricon Technologies (3.3%), and Wuxi AppTec (3.7%).
Source: Trading Economics
