China's SSE Comp index Jumped 0.9%, returned above 4,000 for first time In 14 trading sessions.

China exited factory deflation after more than three years, as energy costs surged when the war in Iran disrupted swaths of global energy supply.

Producer prices rose 0.5% in March from a year earlier after a drop of 0.9% in the previous month, according to data released by the National Bureau of Statistics on Friday.

But consumer inflation cooled more than expected to 1%, down from 1.3% in February, as a seasonal boost from holiday spending petered out. The core consumer price index, which excludes volatile items such as food and energy, slipped to 1.1%.

The increase in producer prices is a result of “factors including a rapid surge in global commodities prices as well as improved supply-demand relationship in certain domestic industries,” NBS analyst Dong Lijuan said in a statement accompanying the data release.