Asian shares hit four-month high on China data, Yellen

Asian shares hit four-month high on Tuesday after China's official PMI survey showed manufacturing managed to continue expanding in March, and dovish comments from Federal Reserve Chair Janet Yellen. China's official Purchasing Managers' Index increased to 50.3 in March from February's 50.2, in line with economists' forecasts. While the PMI figure alone is unlikely to dispel concerns of a slowdown in China, investor sentiment has improved on China in recent weeks as they expect Beijing will adopt a stimulus plan to achieve its growth target.

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