** China's blue-chip CSI 300 Index climbed 0.9% by
the end of the morning session and the Shanghai Composite Index added 0.6%.
** Hong Kong's Hang Seng Index , meanwhile, edged down
0.6% and the Hang Seng China Enterprises Index lost
0.8%.
** Real estate developers gained 2.4% and
financials shares added 1.5% 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 accelerate demand in large- and mid-sized
cities.
** Information technology and media shares surged more than 3% each 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.
** Tech giants listed in Hong Kong lost 1.2%,
tracking Asia markets lower. Meanwhile, energy shares traded in
the city rose 1.5% as oil prices soared.
** Separately, China's factory activity growth stalled in
March, weighed by slowing production and weaker global demand,
adding to uncertainty about a post-COVID recovery, a private
sector survey showed on Monday.
** "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)
