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China Stocks Soar on Factory Activity News


Shares in Asia-Pacific were mixed on Thursday, as multiple markets in the region closed early for New Year’s Eve.

The Hang Seng index in Hong Kong advanced 84.02 points, or 0.3% to 27,231.13.

The Japanese yen traded at 103.13 per dollar, having strengthened from levels above 103.8 against the greenback earlier this week

The Australian dollar changed hands at $0.7701 following a rise from levels below $0.76 seen earlier in the trading week.

Markets in Japan and Korea were closed for New Year’s Eve.

CHINA

In Shanghai, the CSI 300 gained 97.58 points, or 1.9%, to 5,211.29

China on Thursday said its factory activity expanded in December. The country’s official manufacturing Purchasing Managers’ Index (PMI) for December came in at 51.9, according to data from the National Bureau of Statistics. Analysts had expected the December figure to come in at 52.

That was a slight decline compared to November’s reading of 52.1. Still, the December figure was above the 50-level that separates expansion from contraction.

China and the European Union also agreed on Wednesday to an investment deal that will give firms in Europe greater access to Chinese markets.

In other markets

In Singapore, the Straits Times lost 25.41 points, or 0.9%, to end 2020 at 2,843.81.

In Taiwan, the Taiex Index added 44.83 points, or 0.3%, to 14,732.53.

In New Zealand, the NZX 50 dropped 125.5 points, or 1%, to 13,091.64.

In Australia, the ASX 200 faltered 95.33 points, or 1.4%, to 6,587.10

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