Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

SMIC Profits Soar to $138m in Second Quarter
Foldable Phone-Maker Plans Shenzhen IPO, Dispelling Rumors of U.S. Listing
Astra Inks Oxford Vaccine Production Deal with China’s Kangtai
Trending Story: Are Any New Graduates Really Worth 2 Million Yuan a Year? Netizens Discuss!
Trending in China: Popcorn or Cheaper Tickets - What Would Make You Return to the Cinema?
Tesla Challenger Xpeng Raises $400 Million Before Planned U.S. IPO
CATL Announces it Will Supply Batteries for Mercedes-Benz New Electric Sedan
TikTok Sees No Slowdown in Global Popularity Despite Indian Ban and U.S. Threats
Baidu Search, Sina Weibo on ‘Secret List’ of Chinese Apps Banned in India’s Latest Purge
Trending in China: Choosing a College Major - For Love or Money?
Evergrande Health Forges Ahead With Six New Electric Vehicles
Trending in China: How Cute Rabbit Ears Are On the Frontline in Fight Between Delivery Firms
Chinese Company Files Lawsuit Against Apple’s Siri for Patent Infringement Worth Billions
China Home to Six of the World’s Top 10 Unicorns, Hurun Report Says
Trending in China: Can Music Streamers Help Users’ Depression?
Core Parts of China’s Beidou Satellite System ‘100% Made in China’
Trending in China: Xiaomi CEO’s Shows How Best To Harness China’s Social Media Humor for Serious Business
Apple Takes Down Over 30,000 Apps from China Store Amid Government Crackdown
Chinese Chipmaker SMIC to Establish Joint Venture for Wafer Production
Microsoft Said Plan to Acquire TikTok Will Continue
China Stocks Rally on Upbeat Economic Outlook

By Fran Wang / Apr 01, 2019 05:46 PM / Finance

Shanghai stocks posted a second strong day on Monday, bringing their combined gains to nearly 6% over the last two trading days, fueled by the latest surveys showing manufacturing activity in the country was recovering.

The benchmark Shanghai Composite Index closed at 3170.36, up 2.58% from Friday. It hit 3176.62 during intraday trading, the strongest since the end of May. The Shenzhen Component Index also jumped 3.64% to close at 10267.7.

Home appliances, printing and packaging, agricultural and software stocks led the rally.

Recently released key indicators strengthened investor confidence in the resilience of the Chinese economy in the current quarter and expectations of more government support for growth, analysts said.

“The economic fundamentals in the first quarter have been better than expected,” Li Shaojun, a strategist with Guotai Junan Securities, wrote in a note.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI) rose to 50.8 in March after contracting for three straight months. The reading hasn’t been this high since July, according the survey’s press release on Monday. That came after the official manufacturing PMI, published by the National Bureau of Statistics on Sunday, also pointed to a recovery of the industry, with the March reading jumping to a six-month high of 50.5.

Hopes are rising that the government will loosen its policies, such as introducing another cut in the amount of cash banks must keep in reserves to encourage lending, as the economy continues to face downward pressure in the April-June period, Li added.

Related: Manufacturing Improves for First Time in Four Months: Caixin Survey

Share this article
Open WeChat and scan the QR code