China's positive Purchasing Managers' Index (PMI) data has set a bullish tone for Asian markets as investors look towards a potential economic recovery. The latest PMI figures indicate a strong rebound in China's manufacturing sector, with both the official and Caixin PMI surpassing expectations.
The official PMI, which focuses on large state-owned enterprises, rose to 51.1 in July, marking the fifth consecutive month of expansion. Meanwhile, the Caixin PMI, which tracks smaller and private firms, climbed to 52.8, signaling robust growth in the sector.
