Thu. Jul 7th, 2022

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Asia-Pacific stocks mixed

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

Mainland Chinese stocks rose by the afternoon: the Shanghai composite climbed 0.83% while the Shenzhen component gained 0.983%. The Hang Seng index in Hong Kong advanced 0.31% to 27,231.13.

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, according to Reuters.

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, Reuters reported.

In Australia, the S&P/ASX 200 slipped 1.43% to 6,587.10. Singapore’s Straits Times index also dipped 0.89% to 2,843.81.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.1%.

Markets in Australia, Singapore and Hong Kong closed earlier than usual on Thursday due to New Year’s Eve.

Markets in Japan and South Korea are closed on Thursday for a holiday.

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