Asian stock markets are trading mostly higher on Monday, following the lack of any major cues from global markets which were closed for Good Friday, boosted by strong gains in China after domestic data showed manufacturing purchasing managers index expanded in March for the first time since September. Traders also reacted to US inflation data released on Friday that increased by slightly less than expected in February.
US Fed Chair Jerome Powell said at a conference on Friday that the data was 'pretty much in line with expectations' and that the U.S. central bank is in no hurry to cut interest rates. He acknowledged the risks of leaving interest rates where they are now, but nevertheless emphasized the need for consistent inflation control towards a 2 percent target.
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