China stocks see biggest jump in 1-month on strong PMI data

** Around the region, MSCI's Asia ex-Japan stock index was 0.04% firmer, while Japan's Nikkei index closed down 1.4%. ** The largest percentage gainers in the main Shanghai Composite index were Hoymiles Power Electronics Inc, up 18.74%, followed by Wuxi Taclink Optoelectronics Technology Co Ltd, gaining 14.41%, and Suzhou Qingyue Optoelectronics Technology Co Ltd, which rose 12.61%.

China stocks jumped on Monday, logging 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 close, the Shanghai Composite index was up 1.19% at 3,077.38, while the blue-chip CSI300 index rose 1.64%. Both indexes booked their biggest one-day gain since Feb. 29. ** The financial sector sub-index was 1.04% higher, and the consumer staples sector advanced 1.77%, while the real estate index gained 0.22% and the healthcare sub-index added 1.44%.

** The smaller Shenzhen index ended up 2.3% and the start-up board ChiNext Composite index gained 2.965%. ** Around the region, MSCI's Asia ex-Japan stock index was 0.04% firmer, while Japan's Nikkei index closed down 1.4%.

** The largest percentage gainers in the main Shanghai Composite index were Hoymiles Power Electronics Inc, up 18.74%, followed by Wuxi Taclink Optoelectronics Technology Co Ltd, gaining 14.41%, and Suzhou Qingyue Optoelectronics Technology Co Ltd, which rose 12.61%.

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