China PMI Turns Positive in March; Economists Remain Skeptical on Data (FXI)

Chinese stocks are active early Wednesday following economic data showing an uptick in manufacturing last month.

According to the China Federation of Logistics and Purchasing, China's official Purchasing Managers Index (PMI) rose to 50.1 in March, from a reading of 49.9 the prior month. PMI readings above 50 indicate expansion and below 50 indicate contraction. It's the first positive reading since last December.

Market watchers generally see the PMI gaining as government spending and monetary easing begin flowing through to state-owned operations. Some believe that small, privately-owned operations are seeing little benefit as of right now.

On watch Wednesday is the iShares China Large-Cap (NYSE: FXI) ETF.

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