Asia stocks rebound on China’s manufacturing data, offsetting rate fears

China’s PMI is at a 10-year high, boosting MSCI’s Asia-Pacific shares, while the dollar retreats on risk-on sentimentSingapore — Asian stocks rebounded from a two-month low on Wednesday as data showing China’s manufacturing activity in February expanded at the fastest pace in more than a decade cheered investors, offsetting fears over rising interest rates.

Chinese stocks also received a boost, with China’s blue-chip CSI 300 index jumping more than 1%, while the Shanghai Composite index was last about 0.6% higher. The Aussie, often used as a liquid proxy for the yuan, edged 0.1% higher to $0.6735, bouncing from a two-month low of $0.6695 earlier in the session.

“The upcoming data cycle and anticipated forecast revisions by central banks, which will be presented over the next two-three weeks, will be crucial in forming the next leg of financial market trading,” ANZ Bank analysts said in a note.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Asia stocks track US gains, Aussie outperforms: markets wrapStocks in Asia rose, tracking similar gains in the US as investors continued to weigh the potential for a soft landing given expectations for higher interest rates.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Asia’s factories gather some speed on China reopening roostAsia’s manufacturing activity showed signs of revival as China’s reopening provided a lift to the sluggish global economy, although the tailwinds weren’t enough to pull major exporters like Taiwan and Japan out of their slump.
Source: dailymaverick - 🏆 3. / 84 Read more »

International Finance: Asian stocks fluctuate as traders weigh rates path: markets wrapEquities in Asia were mixed on Monday after heavy selling on Wall Street late last week as investors ratcheted up forecasts for US interest rates following hot inflation data.
Source: dailymaverick - 🏆 3. / 84 Read more »