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| Chinese markets higher despite factory data | |
| (about 5 hours later) | |
| Chinese shares were higher in thin holiday trade despite manufacturing data that showed a 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. | 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 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. | 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. | But, it was still down from the final reading of 50 in November. |
| Investors shrugged off the latest data with Hong Kong's Hang Seng index closing up 0.4% to 23,605.04 in a shortened half day of trade. | |
| The benchmark index gained 1.3% this year, but that pales in comparison to the Shanghai Composite, which rose around 50% in 2014. | |
| The mainland index was up 2.17% to 3234.68 at its close. | |
| 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. | 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 45%, while CSR was higher by more than 32%. | |
| Japan, South Korea closed | Japan, South Korea closed |
| Australian shares ended down 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 lower by 0.1% to 5,411, tracking 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. |
| Both Australian and Hong Kong markets will be closed for New Year's day on Thursday. They will reopen on Friday. | |