Asia-Pacific markets traded mostly lower on the year’s final trading day as investors digested weaker-than-expected manufacturing data from China.
China’s Purchasing Managers’ Index (PMI) for December registered at 50.1, slightly below analysts’ expectations of 50.3 and unchanged from November’s reading. The data indicated Beijing’s stimulus measures have not significantly bolstered the country’s struggling economy.
A PMI above 50 suggests expansion, while below 50 indicates contraction.
- Hong Kong’s Hang Seng Index edged up marginally to close at 20,059.95 after a shortened trading session.
- Mainland China’s CSI 300 dropped 0.6%.
- Australia’s S&P/ASX 200 slid 0.92% to 8,159.1.
- Taiwan’s Taiex declined 0.67%.
Japan and South Korea’s markets were closed for the New Year’s Eve holiday. Meanwhile, South Korea’s consumer inflation accelerated in December, climbing 1.9% year-on-year, compared to 1.5% in November.
In the U.S., stocks fell overnight as markets showed signs of a year-end pullback. The Dow Jones Industrial Average shed 418.48 points (-0.97%), the S&P 500 dropped 1.07%, and the Nasdaq slid 1.19%, reflecting a choppy trading session.
