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Stock market today: Asian shares are mixed and Shanghai gains on strong China factory data

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Asian shares are mixed, with Shanghai gaining 1% after surveys showed improvements in manufacturing conditions in China.

A currency trader walks by the screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 1, 2024. Asian shares were mixed Monday, with Shanghai gaining 1% after surveys showed improvements in manufacturing conditions in China. – Asian shares were mixed on Monday, with Shanghai gaining 1% after surveys showed improvements in manufacturing conditions in China.

“A slew of policies introduced earlier this year to stabilize growth are gradually having an effect," Wang Zhe, senior economist at Caixin Insight Group, said in a statement. Markets in the U.S. and Europe were closed on Friday. On Thursday, Wall Street coasted to its latest winning month and quarter by rising to more records. The S&P 500 rose 0.1%, adding to its all-time high set the day before.

The U.S. stock market has been on a nearly unstoppable run since late October, and the S&P 500 just capped its fifth straight winning month. It has leaped as the U.S. economy has remained remarkably solid despite high interest rates meant to get inflation under control.

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