China Manufacturing Activities Slowly Improve, Stock Indexes Retain Upward Bias

Li Chen
01 Apr, 2025
Hong Kong

Stocks in China and Hong Kong advanced following the release of a private survey of the manufacturing sector activities. 

The Hang Seng index advanced 0.3%, and the mainland-focused CSI index decreased 0.1% as investors weighed the impact of the looming U.S. trade tariffs. 

The Hang Seng index advanced 0.8% in March and extended gains in the first quarter to 17%, and the CSI 300 index was nearly unchanged in the month and 1.8%, respectively.  

China's manufacturing sector activities expanded at the fastest pace in four months in March, according to a private survey released by Caixin and S&P Global. 

The Purchasing Managers' Index increased to 51.2 in March, up from 50.8 in February, and the index reached a four-month high with output growth accelerating. 

The private survey, which includes a larger group of smaller exporting companies, confirmed the reading from the official survey, which showed growth accelerated to a one-year high. 

 

China Indexes and Stocks 

The Hang Seng index increased 0.3% to 23,206.12, and the mainland-focused CSI 300 index decreased 0.1% to 3,885.36. 

China Overseas Land & Investment Ltd. decreased 4.3% to HK $13.26, and the residential property developer reported annual results.

Tencent Holdings added 2% to HK $507.0, Alibaba Group Holding gained 1.7% to HK $130.20, JD.com advanced 0.7% to HK $161.90, and Meituan increased 1.9% to HK $158.70.  

China Overseas Land & Investment Ltd. dropped 4.5% to HK $13.28 after the Hong Kong-based real estate company reported results for 2024 ending in December.

Revenue declined to 185.15 billion yuan from 202.52 billion yuan, profit slumped to 15.63 billion yuan from 25.61 billion yuan, and diluted earnings per share fell to 1.43 yuan from 2.34 yuan a year ago.

The group’s revenue from commercial properties was 7.13 billion yuan, an increase of 12.1% as compared to the previous year.

The company proposed a final dividend of HK 30 cents per share, after the interim dividend of HK 30 cent per share.