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Australia shares start new year higher in light trade | |
(about 2 hours later) | |
Asian shares started the new year higher in thin trading with many of the region's markets closed ahead of the first full week of trading in 2015. | |
But, weak factory activity in China capped gains as many countries are dependent on the Asian giant's growth. | |
China's official Purchasing Managers' Index (PMI) slipped to 50.1 in December, the lowest level of 2014, from 50.3 in November. | China's official Purchasing Managers' Index (PMI) slipped to 50.1 in December, the lowest level of 2014, from 50.3 in November. |
In Hong Kong, the benchmark Hang Seng index rose 0.4% to 23,701.93 early on. | |
Australian shares were higher with the S&P/ASX 200 up 0.4% to 5,431.2 points. | |
Shares of miners rose on last week's bounce in iron ore prices as the metal is Australia's top export earner. | |
Atlas Iron led the charge with shares jumping 35%, while other major firms like Fortescue Metals were up 4.4% and Rio Tinto was higher 0.7%. | |
Tiger Resources shares jumped 8% after a local media report quoted the company head saying the copper miner had options to refinance short-term debt. | |
Mainland Chinese, Japanese and South Korean markets are closed on Friday for public holidays. |