Markets Correct Following PMI Exuberance

MARKET_WATCH Finance

Asian equities were mixed overnight as China corrected following yesterday’s exuberance over strong economic data. 

 

 

Mainland China markets fared better than Hong Kong markets, though were still down. Lower volumes on the Mainland may have also been a factor, though it is good to see less of a correction on the Mainland after yesterday’s gains.

The rebound in China’s manufacturing PMIs to 10-year highs in February was significant in letting investors know that the country has fully reopened and is reaping the benefits. Q4 internet earnings have been decent so far, beating estimates, but not as good as they could be in Q1 as reopening is taking full effect.

 

Source : [Markets Correct Following PMI Exuberance](www.forbes.com/sites/brendanahern/2023/03/02/markets-correct-following-pmi-exuberance/) by Brendan Ahern, Senior Contributor - Forbes - Investing by Brendan Ahern, Senior Contributor / March 02, 2023

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