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.
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