Mixed Fortunes for Asia-Pacific Markets Post-Holiday Break

As markets in the Asia-Pacific region reopened after a holiday break, the trading landscape was mixed. The spotlight was on China, where disappointing manufacturing data led to significant stock market declines.

China's Manufacturing PMI Disappoints

The Caixin China General Manufacturing PMI for December came in lower than expected at 50.5, signaling a slowdown in manufacturing activity. This unexpected dip had immediate repercussions on the stock markets.

Stock Markets Tumble in China and Hong Kong

In mainland China, the Shanghai Composite and Shenzhen Composite saw significant drops, plummeting 2.35% and 2.27% respectively. Similarly, Hong Kong's Hang Seng index tumbled 2.19%.

Other Markets Show Mixed Responses

While South Korea's Kospi traded flat, Australia's S&P/ASX 200 added 0.52% by the end of the session. Markets in Japan remained closed for the holidays.

Currency Markets Remain Steady

Amidst the stock market fluctuations, the dollar traded flat against the yen, selling for 157.1075.