China39;s Caixin PMI rises to 51.1 in March, highest in 13 months
Manufacturing activities shrink in Japan, South Korea
Asia facing competition from cheap Chinese exports analyst

TOKYO, April 1 Reuters Factory activity in many Asia economies weakened in March despite a rebound in China as lacklustre domestic demand dragged on growth, surveys showed on Monday, clouding the outlook for a once fastexpanding, key driver of the global economy.

Export powerhouses Japan and South Korea saw manufacturing activities shrink, as well as Taiwan, Malaysia and Vietnam in a sign of the fragile state of the region39;s economies.

China39;s CaixinSP Global manufacturing purchasing managers39; index PMI rose to 51.1 in March from 50.9 the previous month, a private survey showed on Monday, expanding at the fastest pace in 13 months with business confidence hitting an 11month high.

The finding joins an official PMI survey released on Sunday that showed China39;s factory activity expanded for the first time in six months.

The rebound in China, which is struggling to mount a strong economic revival partly due to a protracted property crisis, provides some welcome relief to Beijing and investors globally.

Yet, the weakness in other parts of Asia highlights the challenge the region39;s policymakers face as they wrestle with patchy signs of recovery in global demand and uncertainty on when the U.S. Federal Reserve would start to cut interest rates.

China39;s exports are picking up a…