Chinese stocks jumped to a seven-year closing high on Wednesday, after two separate gauges of Chinese manufacturing activity in March both came in better than expected.
Japanese stocks built on earlier losses, after the Bank of Japan’s quarterly "tankan" survey of Japan’s big manufacturers showed business sentiment barely changed, missing forecasts.
In Japan, the Nikkei 225 index fell another 172.15 points, or 0.9%, to 19,034.84, after Tuesday’s triple-digit loss.
The yen fell against the U.S. dollar to ¥120.27, compared with ¥120.14 late Tuesday in New York.
The Hang Seng Index gained 181.86 points, or 0.7%, to 25,082.75, extending a three-session winning streak. The index marked its best close in nearly seven months.
CHINA
The Shanghai CSI 300 progressed 72.69 points, or 1.8%, to 4,123.90
Earlier in the day, China’s official manufacturing Purchasing Managers Index rose to 50.1 in March from 49.9 in February, back above the 50 mark dividing expansion from contraction. The result beat a forecast of a 49.8 gain in a Wall Street Journal survey.
On the same day, HSBC’s final reading of China’s manufacturing PMI for March was revised upward to 49.6, from a preliminary 49.2, also ahead of market expectations.
In other markets
The Taiex index in Taiwan subtracted 78.78 points, or 0.8%, to 9,507.66
In Singapore, the Straits Times Index eked up 0.01 points to 3,447.02
The Kospi index in Korea erased 12.58 points, or 0.6%, to 2,028.45
In New Zealand, the NZX 50 gained 1.60 points, or 0.03%, to 5,835.58
The S&P/ASX index slid 30.75 points, or 0.5%, to 5,860.75
