CHINA: The official purchasing managers’ index came in at 50.5 in March, according to the NationalBureau of Statistics data released Monday, accelerating from the prior month and in line with Reuterspoll estimates. The non-manufacturing PMI, which covers services and construction, also rose to 50.8from 50.4 in February. On Tuesday another Chinese manufacturing activity index improved at the fastestpace in four months. The Caixin manufacturing purchasing managers index rose to 51.2 in March from50.8 in February, with the data showing an improvement in the country’s industrial sector that exceededeconomists’ estimates.China’s finance ministry will inject $69 billion into four of the nation’s largest state banks via their shareplacements, following through on Beijing’s earlier pledge to beef up the lenders’ capital buffers.Bank of Communications Co., Bank of China Ltd., Postal Savings Bank of China Ltd. and ChinaConstruction Bank Corp. plan to raise up to a combined 520 billion yuan ($72 billion) through additionalofferings of mainland-traded stocks, according to filings on Sunday. The Ministry of Finance will be thetop investor in all the proposed private placements, subscribing to 500 bn yuan worth of shares in total.
