** China's blue-chip CSI 300 Index closed up 0.3%,
and the Shanghai Composite Index added 0.4%.
** Hong Kong's Hang Seng Index , meanwhile, gained
0.6%, and the Hang Seng China Enterprises Index climbed
0.8%.
** China's official manufacturing purchasing managers' index
(PMI) stood at 51.9, against 52.6 in February, slightly
exceeding expectations of 51.5.
** "The PMI indicates China's economic recovery is on
track," said Zhiwei Zhang, chief economist at Pinpoint Asset
Management. "We witnessed many policy actions to boost
confidence ... (which) will help the economy to keep the strong
momentum. We think GDP growth may surpass 6% this year."
** Investor sentiment edged up as domestic macro recovery
remained on track and top-down government support for the
private sector accelerated, Morgan Stanley analysts said in a
note.
** However, Ting Lu, chief China economist at Nomura, warned
of worsening geopolitical tensions and financial concerns in
developed markets. He also cautioned that "property markets have
yet to truly recover, and the private sector's confidence has
yet to fully return."
** Shares in Chinese media and computer
companies surged 5.8% and 4.5% each to outperform
other sectors, amid a frenzied tech and media shares rally
driven by the launch of Microsoft's ChatGPT.
** Tech giants listed in Hong Kong advanced 0.8%.
** Chinese e-commerce firm JD.com Inc jumped 5.4%
after the company said it planned to spin off its property and
industrial units and list them on the Hong Kong Stock Exchange.
** Alibaba Group climbed 3.6% after Bloomberg News reported that the tech giant's logistics arm Cainiao Network Technology has started preparations for its Hong Kong initial public offering. (Reporting by Shanghai Newsroom; Editing by Sonia Cheema and Varun H K)
