Stock Market (Sylodium, import export business)

Shares in Hong Kong and China rose on Monday, extending gains seen at the end of last week, as investors brushed off another set of data showing Chinese manufacturing activity weakened in March.

Hong Kong's benchmark Hang Seng Index surged 1.91 percent, or 409.75 points, to 21,846.45 on turnover of HK$74.56 billion (US$9.62 billion).

The British banking giant's flash purchasing managers index (PMI) came in at 48.1, an eight-month low and down from 48.5 in February. A final figure will be released next week. Anything below 50 indicates contraction while a figure above points to expansion.

"The whole of Asia seems to have factored in lowered expectations for China's growth," Yoshihiro Okumura, general manager at Chibagin Asset Management, told Dow Jones Newswires.

 

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