Stocks jump as China's factories roar back from Covid

SINGAPORE: Asian stocks bounced off a two-month low and headed for their best day in seven weeks on Wednesday, as data showing China's manufacturing activity expanded at the fastest pace in over a decade injected a jolt of optimism in hitherto gloomy markets.

China's official manufacturing purchasing managers' index (PMI) stood at 52.6 last month against 50.1 in January and was well ahead of an analyst forecast for 50.5, giving investors hope that China's recovery can offset a global slowdown.