## Asian Markets Mixed on Monday, Shanghai Gains 1%
Asian markets were mixed on Monday, with Shanghai gaining 1% after surveys showed improvements in China's manufacturing conditions. Tokyo's Nikkei 225 fell 1.4% on declining sentiment among large manufacturers.
China's official manufacturing PMI reached its strongest reading since March 2023, while the Caixin/S&P Global China manufacturing PMI was its strongest since February 2023.
The World Bank forecasts 4.5% growth for developing East Asian and Pacific economies this year, with China's economy expanding at 4.5%.
Elsewhere in Asia, South Korea's Kospi edged higher, India's Sensex rose 0.6%, and Thailand's SET gained 0.2%.
U.S. markets closed Friday at record highs, with the S&P 500 capping its fifth straight winning month. The Federal Reserve has indicated potential interest rate cuts later this year.
Oil prices rose, with U.S. benchmark crude gaining 26 cents to $83.43 per barrel and Brent crude adding 23 cents to $87.23 per barrel.