Chinese Stocks Gain as Upbeat PMI Data Reinforce Recovery Hopes
- CSI 300 Index rises 1.6% to lead gains among major Asia gauges
- Chinese home sales are still a drag as they fell last month
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Chinese stocks rallied as a rebound in manufacturing activity reinforced hopes that the nation’s economic recovery may be starting to gain traction.
The benchmark CSI 300 Index rose 1.6%, the most in a month, to lead gains in Asia on Monday. All sectors except utilities and energy gained, while Hong Kong’s market was shut for a holiday.