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Australia shares start new year higher in light trade | Australia shares start new year higher in light trade |
(about 3 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 0.7% to 23,764.64. | |
Bucking the trend were shares of casinos, after data showed that gambling revenue in Macau fell for the first time on an annual basis since its casinos were liberalised in 2001. | |
Wynn Macau, Melco Crown and Galaxy Entertainment shares were all down more than 2.6%. | |
Australian shares closed higher, with the S&P/ASX 200 up 0.5% to 5,435.9 points. | |
Shares of miners rose following last week's bounce in iron ore prices, as the metal is Australia's top export earner. | |
Atlas Iron led the charge, with shares soaring 39%, while another major firm, Fortescue Metals, was up 3.3%. | |
Tiger Resources shares jumped more than 19% after a local media report quoted the company head saying the copper miner had options to refinance short-term debt. | |
Manufacturing woes | Manufacturing woes |
In Korea, shares headed higher despite a private survey showing the country's manufacturing activity shrinking for a fourth consecutive month in December. | In Korea, shares headed higher despite a private survey showing the country's manufacturing activity shrinking for a fourth consecutive month in December. |
The HSBC/Markit PMI rose to a seasonally adjusted 49.9 in December from 49.0 in November. | The HSBC/Markit PMI rose to a seasonally adjusted 49.9 in December from 49.0 in November. |
It just missed the 50-point mark which separates expansion from contraction. | It just missed the 50-point mark which separates expansion from contraction. |
The benchmark Kospi ended up 0.6% to 1,926.44 points. | |
Mainland Chinese and Japanese markets are closed on Friday for public holidays. | Mainland Chinese and Japanese markets are closed on Friday for public holidays. |