Chinese stocks climbed to their highest level in a year on Monday as official and private-sector surveys signaled a better picture for manufacturing in China, said the Financial Times.
The CSI 300 index, composed of major companies listed in Shanghai and Shenzhen, closed up 2.6%, its highest level since March 2018, outperforming a strong day for major stock exchanges across Asia.
The rally followed data indicating that China’s factory sector grew in March, matching an official manufacturing purchasing managers’ index reading published by Caixin, also showing a rebound after three consecutive months of contraction.