Chinese Stocks Rebound After Terrible Month on Upbeat Data
- Key gauges in Hong Kong, China jump on PMI’s upward surprise
- Investors look to NPC over the weekend for further stimulus
This article is for subscribers only.
Chinese markets rallied as unexpectedly strong manufacturing data suggested that the economic recovery is gathering pace, emboldening traders to pile in after weeks of heavy selling.
US-listed China stocks gained on Wednesday, with the Nasdaq Golden Dragon Index up as much as 4.5%, rebounding from a loss of 11% in February. Their moves tracked Hong Kong peers, where Hang Seng China Enterprises Index jumped 5.1% overnight helped by tech and property stocks. The Hang Seng Index climbed 4.2%, while the offshore yuan strengthened the most since December. Other assets across Asia also gained.