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Asia-Pacific stocks undergoing few changes

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Asian shares

Stocks in Asia-Pacific were little changed in Thursday trade as investors reacted to the release of a private survey on China’s services sector activity in November.

Mainland Chinese stocks were mixed by the afternoon, with the Shanghai composite down about 0.1% while the Shenzhen component gained 0.149%. In Hong Kong, the Hang Seng index advanced 0.56%.

The Caixin/Markit services Purchasing Managers’ Index for November released Thursday came in at 57.8, rising from October’s reading of 56.8.

PMI readings above the 50 mark signify expansion, while those below that level represent contraction. PMI readings are sequential and show month-on-month expansion or contraction.

Earlier this week, China’s official PMI data showed that services sector activity expanded for the ninth straight month. The official non-manufacturing PMI reading for November was 56.4, as compared with 56.2, according to data from the statistics bureau.

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