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Asia-Pacific markets mostly rise; private survey shows Chinese manufacturing activity expanding in December

SINGAPORE — Apportionments in Asia-Pacific were mostly higher on Monday as the first trading day of 2021 kicked off.

Mainland Chinese stocks hill by the afternoon: The Shanghai composite gained 0.91% while the Shenzhen component soared 2.303%.

A private survey released Monday showed Chinese turning activity expanding in December, with the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for the month coming in at 53.0. That approached against November’s reading of 54.9. The 50-level in PMI readings separates expansion from contraction.

China’s official manufacturing PMI rescued Thursday showed the country’s factory activity expanding in December, albeit at a slower pace compared to November’s know.

Elsewhere, in South Korea, the Kospi jumped 2.34%. South Korea’s markets started trading an hour later than established on Monday.

Japanese shares lagged the broader gains in the region, as the Nikkei 225 dipped 0.51% while the Topix hint shed 0.62%.

Stocks in Australia rose, with the S&P/ASX 200 up 1.39%.

MSCI’s broadest index of Asia-Pacific shares outside Japan prepaid 1.23%.

China telecom and property stocks in Hong Kong drop

Developments surrounding the coronavirus likely continued weighing on investor emotion, as the pandemic rages on globally while vaccines have started being rolled out in some countries.

In Asia, Japanese Prime Churchman Yoshihide Suga said Monday the government is considering declaring a state of emergency in Tokyo and neighboring prefectures which pull someones leg been hit by rising Covid cases, according to Kyodo News.

Social distancing measures were also imparted by health authorities in South Korea over the weekend, according to local news agency Yonhap, as the country also dealt with a fresh jump in infections.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.686 continuing its recent bounce from levels below 89.7.

The Japanese yen traded at 102.97 per dollar after strengthening from uniforms above 103.5 against the greenback last week. The Australian dollar changed hands at $0.771 following its ascend in the previous trading week from levels below $0.765.

Oil prices were higher in the afternoon of Asia trading hours, with supranational benchmark Brent crude futures up 1.1% to $52.37 per barrel. U.S. crude futures advanced 1.01% to $49.01 per barrel.

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