China stocks jump on strong PMI data

China stocks jumped on Monday, on course for their biggest daily gain in a month, after the latest manufacturing activity data signalled that the economy's recovery is gaining traction, while the Hong Kong market was closed for a holiday.

China stocks jumped on Monday, on course for their biggest daily gain in a month, after the latest manufacturing activity data signalled that the economy's recovery is gaining traction, while the Hong Kong market was closed for a holiday. ** China's manufacturing activity expanded at its fastest pace in 13 months in March, with business confidence hitting an 11-month high, driven by growing new orders from customers at home and abroad, a private survey showed on Monday.

** The data is in line with an official factory survey showing China's manufacturing activity expanded for the first time in six months in March. ** The upbeat results followed recent better-than-expected export and retail sales data, suggesting a bright start to the year for the world's second-biggest economy.

** Chinese shares also led a rally around most of Asia on Monday amid a broadly optimistic global economic backdrop. ** At the midday break, the Shanghai Composite index was up 1.02% at 3,072.29 points, set to log its biggest one-day gain in a month.

** China's blue-chip CSI300 index was up 1.53%, with its financial sector sub-index rising 0.84%, the consumer staples sector up 1.85%, the real estate index down 0.2% and the healthcare sub-index gaining 1.1%. ** The smaller Shenzhen index was up 2.05%, the start-up board ChiNext Composite index was 2.63% higher and Shanghai's tech-focused STAR50 index was up 1.62%​.

** Around the region, MSCI's Asia ex-Japan stock index was 0.17% firmer, while Japan's Nikkei index was down 1.18%. ** The largest percentage gainers in the main Shanghai Composite index were Autel Intelligent Technology Corp , up 14.54%, followed by Hoymiles Power Electronics , gaining 14.1% and Wuxi Taclink Optoelectronics Technology, up 14.03%.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)