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Chinese markets trade mixed on factory data | |
(about 2 hours later) | |
Chinese shares traded mixed in thin holiday trade on manufacturing data that painted an even weaker picture of the world's second largest economy. | |
Activity in China's factory sector shrank for the first time in seven months in December. | |
The final HSBC/Markit Purchasing Managers' Index (PMI) was at 49.6, just below the 50 level that separates growth from contraction. | |
The number was slightly higher than a preliminary "flash" reading of 49.5. | |
But, it was still down from the final reading of 50 in November. | |
Investors mostly shrugged off the latest data with Hong Kong's Hang Seng index trading flat at 23,488.52, while the Shanghai Composite was up 0.4% to 3,177.47. | |
Shares of the world's biggest trainmakers China CNR and CSR jumped on news that they will merge, creating a super conglomerate that will compete with the likes of Germany's Siemens and Canada's Bombardier for global rail deals. | |
Hong Kong listed China CNR shares skyrocketed to over 42%, while CSR was higher by more than 32%. | |
Japan, South Korea closed | |
Australian shares traded flat on New Year's Eve in thin trade as Japanese and South Korean markets were closed for the holidays. | |
The benchmark S&P/ASX 200 was at 5,414.1 despite losses on Wall Street overnight. | |
The Dow Jones fell 0.4% to 17,973.48, while the S&P 500 lost 0.5% to 2,080.51, moving away from the record highs hit this week. | The Dow Jones fell 0.4% to 17,973.48, while the S&P 500 lost 0.5% to 2,080.51, moving away from the record highs hit this week. |
Shares of miner Rio Tinto got a bounce from higher iron ore prices. | Shares of miner Rio Tinto got a bounce from higher iron ore prices. |
It was up 1.4% after closing down 0.7% on Tuesday. | |