CMB Strategy: Manufacturing PMI Rises MoM in March, Precious Metal Prices Increase

Golden Ten Data reported on April 2nd that China Merchants Strategy's research report pointed out that this week, the improvement in business climate mainly lies in upstream resource products and the utilities sector. Among upstream resource products, prices of most industrial metals, gold and silver, oil, and most chemical products have risen. In information technology, DDRM prices have marginally declined, and the three-month rolling year-on-year decline in February smartphone shipments has widened. In the consumer services sector, the wholesale price of Feitian Moutai has increased, while pork prices have fallen. In March, both the manufacturing PMI and non-manufacturing PMI rose month-on-month. It is recommended to focus on nonferrous metals, oil and petrochemicals, fine chemicals, food and beverages, electricity, and batteries, which currently have high or improving business climate and whose performance is expected to recover.