Chinese Stocks Gain as Upbeat PMI Data Reinforce Recovery Hopes

(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.