** China's blue-chip CSI 300 Index climbed 1% at
close and the Shanghai Composite Index added 0.7%.
** Hong Kong's Hang Seng Index , meanwhile, ended
almost flat, and the Hang Seng China Enterprises Index slipped 0.4%.
** Real estate developers gained 2.2% and
financials shares added 1.7% after a private survey
showed prices of new homes in 100 Chinese cities rose at the
fastest pace in nine months in March, as government support
measures helped boost demand in large- and mid-sized cities.
** Information technology and media shares surged 4.3% and 5.2% respectively to outperform other
sectors, amid a frenzied tech and media shares rally, driven by
the launch of Microsoft's ChatGPT.
** Oil prices surged on Monday after Saudi Arabia and other
OPEC+ producers announced a surprise round of output cuts, a
potentially ominous sign for global inflation. Asia equity
markets slipped on the news.
** Hong Kong-listed energy companies rose 0.7% as
oil prices soared.
** Also denting risk appetite, China's factory activity
growth stalled in March, hurt by slower production and weaker
global demand, a private sector survey showed on Monday, adding
to uncertainty about a post-COVID recovery.
** "The foundation for economic recovery is not yet solid. Looking forward, economic growth will still rely on a boost in domestic demand, especially an improvement in household consumption," said Wang Zhe, senior economist at Caixin Insight Group.
(Reporting by Shanghai Newsroom; Editing by Sonia Cheema and Sonali Paul)
