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Asia shares edge up, China factories show flicker of life

Added 03-30-20 11:03:02pm EST - “Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down.” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asia shares edge up, China factories show flicker of life”. Below is an excerpt from the article.

SYDNEY (Reuters) - Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down.

China’s official manufacturing purchasing managers’ index (PMI) bounced to 52.0 in March, up from a record-low 35.7 in February and topping forecasts of 45.0.

Analysts cautioned the index could overstate the true improvement as it measures the net balance of firms reporting an expansion or contraction in activity.

If a company merely resumed working after a forced stoppage, it would read as an expansion without saying much about the overall level of activity.

Still, the headline number was a relief and helped MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rise 1.1%.

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