Chinese stocks climbed to their highest level in a year on Monday as official and private-sector surveys signalled a brighter picture for manufacturing in the world’s second-biggest economy.
The CSI 300 index, composed of major companies listed in Shanghai and Shenzhen, closed up 2.6 per cent at its highest level since March 2018, outperforming a strong day for major bourses across Asia.
The rally followed a private survey showing China’s factory sector returned to growth in March, matching an official manufacturing purchasing managers’ index reading published on Sunday also indicating a rebound after three consecutive months of contraction.
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