SINGAPORE — Shares in Asia-Pacific were mostly higher on Monday as the first trading day of 2021 kicked off.
Mainland Chinese stocks rose by the afternoon: The Shanghai composite gained 0.91% while the Shenzhen component soared 2.303%.
A private survey released Monday showed Chinese manufacturing activity expanding in December, with the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for the month coming in at 53.0. That compared against November’s reading of 54.9. The 50-level in PMI readings separates expansion from contraction.
China’s official manufacturing PMI released Thursday showed the country’s factory activity expanding in December, albeit at a slower pace compared to November’s reading.
Elsewhere, in South Korea, the Kospi jumped 2.34%. South Korea’s markets started trading an hour later than usual on Monday.
Japanese shares lagged the broader gains in the region, as the Nikkei 225 dipped 0.51% while the Topix index shed 0.62%.
Stocks in Australia rose, with the S&P/ASX 200 up 1.39%.
MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.23%.
China telecom and property stocks in Hong Kong drop
Developments surrounding the coronavirus likely continued weighing on investor sentiment, as the pandemic rages on globally while vaccines have started being rolled out in some countries.
In Asia, Japanese Prime Minister Yoshihide Suga said Monday the government is considering declaring a state of emergency in Tokyo and neighboring prefectures which have been hit by rising Covid cases, according to Kyodo News.
Social distancing measures were also extended by health authorities in South Korea over the weekend, according to local news agency Yonhap, as the country also dealt with a recent jump in infections.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.686 following its recent bounce from levels below 89.7.
The Japanese yen traded at 102.97 per dollar after strengthening from levels above 103.5 against the greenback last week. The Australian dollar changed hands at $0.771 following its rise in the previous trading week from levels below $0.765.
Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 1.1% to $52.37 per barrel. U.S. crude futures advanced 1.01% to $49.01 per barrel.
Source: CNBC