China Caixin Services PMI Rises to Three-Month High 51.9; Hang Seng Index Reacts
Expert Views on China’s Services Sector
Dr. Wang Zhe, Senior Economist at Caixin Insight Group, remarked:
“Market optimism was maintained. The indicator for expectations of future activity measured lower than February but remained in expansionary territory. Service providers were hopeful about future policy support at home. However, some expressed concerns over a potentially deteriorating global trade environment.”
The Market Reaction to the Caixin Services PMI
Financial markets responded swiftly to the PMI release, reflecting improving sentiment toward China’s economy.
Before the PMI data, the Hang Seng Index dropped to a low of 22,638. However, in response to the March PMI report, the Index briefly rose to a high of 22,962 before retreating to a post-report low of 22,826.
On Thursday, April 3, the Index was down 1.44% to 22,869 for the morning session. Concerns about President Trump’s tariffs overshadowed the upbeat PMI report.
This article was originally published by a www.fxempire.com
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