Manufacturing Output In China Expands
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China's Purchasing Manager's Index rose to 52.4 in March from 49 in February, the China Federation of Logistics and Purchasing reported. A reading above 50 signals expansion.
This was the first expansion in China's manufacturing output in six months, spurred by the Chinese government's 4 trillion yuan stimulus package.
This news could support commodity related stocks like United States Steel Corp. (NYSE: X), Rio Tinto plc (NYSE: RTP), Freeport-McMoRan (NYSE: FCX), Arch Coal Inc. (NYSE: ACI). This could also be positive for shippers like DryShips, Inc. (Nasdaq: DRYS).
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