China PMI gauge at 11-month high.

China's official PMI rose to 50.9 in March, up from 50.1 previously and now at an 11-month high. Still, the print missed analyst expectations of 51.2. "We are clearly in a lot better state than we were at the end of last year," said IHS' Alistair Thornton, but the economy faces "fairly large headwinds" such as property curbs and tighter supervision of "shadow" banking.