Chinese Stocks Gain as Upbeat PMI Data Reinforce Recovery Hopes [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — 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 as much as 1.7%, the most in a month, to lead gains in Asia. Most sectors except utilities and energy gained, while Hong Kong's market was shut for a holiday. Article content Investors are turning more optimistic about the world's No. 2 economy after China's official manufacturing purchasing managers index registered the highest reading in a year, the latest economic green shoot alongside strong exports and rising consumer prices. The CSI 300 capped its first quarterly gain in a year after authorities rolled out a slew of measures to shore up growth and restore confidence. Article content “Emerging optimism about China is real,” said Vishnu Varathan, chief economis
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