Why Did the March PMI Rebound Significantly?
Wallstreetcn·- On March 31, the National Bureau of Statistics released the March PMI figures, showing a manufacturing PMI of 50.4% and a non-manufacturing PMI of 50.1%. - The significant rebound in March’s PMI is attributed to the fading impact of the Spring Festival and accelerated demand recovery, with new orders index increasing notably. - Despite this recovery, concerns remain regarding the potential negative impact of rising oil prices on manufacturing profitability.The Shanghai Composite Index fluctuated and rose, "Meta concept stocks" surged, the gold and silver sector saw widespread limit-ups, the Hang Seng Index rose over 1% to reach a nearly five-year high, and tech stocks rebounded
Wallstreetcn·- The A-share market saw a mixed performance, with increases in semiconductor and CPO stocks, while gold prices surged due to geopolitical tensions and a declining dollar. - The Hang Seng Index rose by over 1%, reaching a new high since 2021, driven by gains in tech stocks and strong performances in the gold and colored metals sectors. - Corning's significant contract with Meta for fiber cables supports the growth of AI data centers and reflects ongoing demand from major tech companies.