Signage of the Hong Kong stock exchange in Hong Kong. HKEX has added a new scheme that will connect capital markets in Hong Kong and mainland.
Vernon Yuen | Nurphoto | Getty Images
Asia-Pacific markets were set for a mixed start to the year, with official data from China over the weekend highlighting a deepening contraction in its manufacturing sector.
Official data showed China’s manufacturing PMI contracted further in December 2023, in a sign that more policy support was likely needed to revive its economy.
Japan was assessing the damage from a powerful earthquake that struck its central region on New Year’s Day. Markets in the region are closed until Jan. 4.
Nearly 100,000 people were ordered to evacuate, and at least one person was reported dead from the quake, which had a preliminary magnitude of 7.6.
Asia-Pacific region will see private factory activity surveys out from S&P Global for China, Australia, and South Korea, as well as fourth-quarter gross domestic product reading from Singapore.
Japan’s Nikkei 225 wrapped up 2023 with gains of over 28%, making it Asia’s top-performing market.
Australia’s S&P/ASX 200 slipped marginally in early trade, while futures for Hong Kong’s Hang Seng index stood at 17,160, pointing to a stronger open compared with the HSI’s close of 17,047.39.
In the U.S., stock futures were flat in overnight trading Monday as the market prepares to kick off the new year.
Futures for the Dow Jones Industrial Average were little changed, while S&P 500 and Nasdaq 100 futures traded marginally above the flatline. Markets were closed Monday for New Year’s Day.
— CNBC’s Yun Li contributed to this report
Source link: https://www.cnbc.com/2024/01/02/asia-markets.html