China's Mainland Stock Markets Surge in Morning Trade
Dou Shicong
DATE:  Apr 01 2019
/ SOURCE:  yicai

(Yicai Global) April 1 -- China's mainland stock markets soared in this morning's session with all three indexes going into the lunch break more than 2 percent higher. The markets were supported by strong economic data for March.

The Shanghai Composite Index rose 2.29 percent to 3,161.49 points at the break with CNY300.9 billion (USD44.9 billion) swapped, marking a ten-month high. The Shenzhen Component Index closed up 3.13 percent at 10,217.06 with a turnover of CNY349 billion. The ChiNext Index, which tracks growth enterprises in Shenzhen, went up 3.39 percent to 1,751.03 with CNY91.4 billion changing hands.

All sectors closed higher at the break, led by accommodation stocks which surged 6.03 percent. Agriculture, nonferrous metal, software and mining sectors all rose more than 4 percent. The liquor and beverage sector expanded slowest at 0.23 percent.

The Caixin Manufacturing Purchasing Managers' Index released today gained 0.9 point to 50.8 for March, ending three months of readings below the 50-point growth threshold and hitting an eight-month high.

The data kept pace with the official Manufacturing PMI released yesterday, which increased 1.3 point monthly to 50.5, according to the National Bureau of Statistics. Both readings indicate a possible recovery in the Chinese economy for the month.

Editor: William Clegg

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Keywords:   Shanghai Composite Index,Shenzhen Component Index,ChiNext Price Index