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Asian stocks swung between gains and losses as investors weighed reports on China’s manufacturing that pointed to weakness in the world’s second-biggest economy. A Chinese Purchasing Managers’ Index fell to 48 in March, the lowest reading since July, from 48.5, HSBC Holdings Plc and Markit Economics said today. A separate PMI from the government, with a larger sample size, registered 50.3 from 50.2 in February.
Nikkei 225 14,791.99 -35.84 -0.24%
S&P/ASX 200 5,389.2 -5.63 -0.10%
Shanghai Composite 2,046.36 +13.05 +0.64%
Evergrande Real Estate Group Ltd., China’s third-biggest developer by area sold, soared 6.3 percent in Hong Kong as investors welcomed the company’s dividend and full-year earnings beat estimates.
Sands China Ltd. and Galaxy Entertainment Group advanced in Hong Kong after Credit Suisse Group AG said casino revenue may rise 13 percent in March.
Hokkaido Electric Power Co. slumped 10 percent in Tokyo on a report the Development Bank of Japan Inc. will inject 50 billion yen ($484 million) into the utility.
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