Asian Markets Mixed: China Up, Japan Down on Business Sentiment

London: 1 April 2024 (TraderMade): Asian markets painted a mixed picture on Monday as investors digested China's positive manufacturing data and Japan's cautious business outlook.

China Strengthens

Chinese manufacturing activity grew dramatically in 13 months in March, according to the Caixin/Markit PMI survey released today. The reading of 51.1 exceeded expectations and indicates consistent growth for the fifth consecutive month in the sector. This positive data lifted China's CSI 300 index by 1.64%.

Japan Hesitates

In contrast, Japan's Nikkei 225 closed 1.4% lower. The first-quarter Tankan business sentiment survey revealed a decline in optimism among large manufacturers. However, optimism among non-manufacturers rose, suggesting a potential for diverse economic performance.

Looking Ahead

Market participants will continue to monitor economic indicators throughout the week. Key highlights include Indonesia's inflation data, South Korea's trade figures, and the Reserve Bank of India's monetary policy decision.