US President Donald Trump has flagged Wednesday as “Liberation Day” and has pledged to impose additional sweeping levies against trading partners, without providing additional details about his plans.
Separately, a private-sector survey has shown that mainland factory activity expanded at its fastest pace in four months in March, buoyed by stronger demand and robust export orders.
The Caixin/S&P Global manufacturing PMI climbed to 51.2 last month from 50.8 in February. That was higher than analyst expectations of 51.1. A number above 50 signals growth.
The rebound broadly aligned with an official PMI released on Monday that showed manufacturing activity growing at its quickest rate in a year. (with additional reporting by agencies)