Chinese markets higher after manufacturing data

Monday, 01. April 2019 07:45

Asian stock markets started the week on a strong note following the release of stronger-than-expected Chinese and Japanese manufacturing data. China's manufacturing activity rose in March for the first time since November to 50.8 while Japan's Nikkei manufacturing PMI for March rose to 49.2 after an almost three-year low in February. In other news, Japan announced that the name of its next emperor's reign would be the Reiwa era, which will start when Emperor Akihito abdicates at the end of the month to make way for his son, Crown Prince Naruhito.

The Shanghai Composite jumped 2.57% at 7:41 am CET while the Shenzhen Composite traded 3.28% higher at 7:42 am CET. Hong Kong's Hang Seng rose 1.31% at 7:42 am CET​.

Despite the stronger data, the Nikkei 225 decreased 0.21% at 7:43 am CET. The dollar traded 0.16% higher against the yen to go for 111.0445 at 7:44 am CET.

The South Korean Kospi Composite grew 1.38% at 7:45 am CET. Australia's S&P/ASX 200 advanced 0.63% at 7:30 am CET.

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