Expert views on China’s service sector
Dr. Wang Ze, Senior Economist of Caxin Insight Group, Comment:
“Market optimism was maintained. The indicators for future activity expectations were measured less than February, but remained in the field of expansion. Service providers had expected future policy support at home. However, some expressed concern over the potentially poor global trade environment.”
Market reaction to Caixin Services PMI
Financial markets rapidly responded to the PMI release, which improved China’s emotion towards the economy.
Prior to PMI data, the Hang Seng index fell at a low of 22,638. However, in response to the March PMI report, the index reached a high level of 22,962 before the retreat in the report after 22,826.
On Thursday, April 3, the index for the morning season was below 1.44% to 22,869. Concerns about President Trump’s tariff saw the excited PMI report.
