Stock market today: Asian shares are mixed and Shanghai gains on strong China factory data

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Asian shares were mixed on Monday, with Shanghai gaining 1% after surveys showed improvements in manufacturing conditions in China. Tokyo’s Nikkei 225 fell 1.4% after a Bank of Japan quarterly survey on business conditions showed sentiment among large manufacturers declined in March. China’s official manufacturing PMI came in at 50.8 in March, its strongest reading since March 2023. The Caixin/S&P Global China manufacturing PMI was 51.1 in March, its strongest since February 2023. The World Bank forecasts that economies in developing countries of East Asia and the Pacific will grow 4.5% this year, down from 5.1% in 2023. U.S. markets will reopen this week with a slew of economic data expected. The U.S. stock market has been on a winning streak, and the Federal Reserve may cut interest rates later this year. U.S. benchmark crude oil gained 26 cents to $83.43 per barrel.

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https://www.yahoo.com/news/stock-market-today-asian-shares-045015869.html