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Update: China s manufacturing activity recovers in March

Update: China s manufacturing activity recovers in March
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Nikkei Dips on New Fiscal Year, Gold Soars to New Highs, Currencies Unmoved

Activity in global financial markets remain generally subdued due to the extended Easter holiday in many regions. Nevertheless, Japan's markets kicked off the new fiscal year on a tumultuous note, with Nikkei index having a sharp sell-off. Analysts have largely dismissed the latest quarterly Tankan survey as the catalyst for this downturn. Instead, the sell-off could be attributed to institutional investors engaging in profit-booking activities typical of the financial year's commencement. Meanwhile, Yen remained relatively stable, showing little reaction and maintaining a very tight range amid the market activity.

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