Bargain-Hunting, China Factory Report Lift Asian Stock Markets

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Bargain-Hunting, China Factory Report Lift Asian Stock Markets

, MT Newswires - 6:44 AM ET 4/1/2025 default

06:44 AM EDT, 04/01/2025 (MT Newswires) -- Asian stock markets rebounded from Monday's sell-off, as traders looked for bargains and weighed signs that China's huge industrial base may be weathering trade tensions and the nation's property woes.

Hong Kong, Shanghai and Tokyo finished in the green Tuesday, as did most other regional exchanges.

In Japan, the Nikkei 225 opened higher on overnight Wall Street cues and bargain-hunting after Monday's sell-off, but slipped in trading to finish the day even.

The benchmark Nikkei 225 rose 6.92 to 35,624.48, as gaining issues outnumbered losers 112 to 111.

Leading the upside was drugmaker Daiichi Sankyo, up 6%, while electronic-components maker Alps Electric declined 5%.

In economic news, the headline Japan manufacturing purchasing managers index, or PMI, fell to 48.4 last month from 49 in February, and slipped further below the 50-marker that separates growth from contraction, reported S&P Global, citing its monthly survey.

In Hong Kong, the Hang Seng Index opened higher and held ground, finishing up 0.4% as traders reviewed a positive report on the state of China's manufacturing sector.

The broad gauge Hang Seng rose 87.26 to 23,206.84 as gaining issues outnumbered losers 60 to 21. The Hang Seng TECH Index gained 0.2% on the day, but the Mainland Properties Index fell 0.5%.

Leading the upside was CSPC Pharmaceutical, gaining nearly 11%, while smartphone and automaker Xiaomi declined 5.5%.

On the mainland, the Shanghai Composite opened higher and held ground, finishing up 0.4% to 3,348.44.

In economic news, the Caixin China seasonally adjusted manufacturing PMI improved to a four-month high of 51.2 in March, up from 50.8 in February, reported S&P Global.

On the other regional exchanges, the S. Korean KOSPI rose 1.6%; the Taiwan TWSE jumped 2.8%; the Australian ASX 200 inclined 1%; the Singapore Straits Times Index fell 0.1%, and the Thai Set increased 0.9%. In late trading in Mumbai, the Sensex was down 1.5%.

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