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Nikkei sees profit taking ahead of BoJ, China gets stronger manufacturing PMI

FXstreet.com (Barcelona) - Japan’s Nikkei Stock Average fell -1.72% on profit taking ahead of the much expected BoJ meeting this week and Mainland China’s Shanghai Composite gained +0.04% after the rising manufacturing PMI, picking up from the holiday-affected 50.1 in February to 50.9 in March: “a decent bounce, but overall disappointed market expectations for a more convincing improvement to 51.2”, according to TD Securities analysts. “The March quarter average is 50.5: same as Dec qtr 2012, hence hints at a steady GDP print of 8.0%/yr (after 7.9% in Dec qtr 2012)”, they continued.

Easter Monday will keep countries closed for holidays and low volume will be maintained.

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