Asian markets are trading mostly higher Tuesday as investors cheered good news about China’s factory output amid the coronavirus pandemic.
Hong Kong’s Hang Seng index is up three-quarters of one percent, while the index in Shanghai is trading just over one-tenth of one percent and South Korea’s KOSPI has posted gains near one percent in late afternoon trading. Japan’s Nikkei and Australia’s S&P/ASX are trading in negative territory, erasing their early morning gains.
China announced earlier in the day that its official manufacturing purchasing managers’ index (PMI) was 52.0 in March, rebounding from a record-low of 35.7 in February.
Investors were also cheered by Monday’s surge on Wall Street, with the Dow Jones, S&P 500 and the Nasdaq all earning well over 3%.