Aerial view of vehicles traveling on a road through the central business district of Beijing, China, October 5, 2020.
Zhang Qiao | Visual China Group | Getty Images
Asia-Pacific markets for December opened mostly in the red on Monday as traders analyzed new manufacturing data from China and rising expectations for interest rate cuts from the US Federal Reserve this month.
According to the CME FedWatch tool, traders are pricing in an 87.4% chance of a quarter-point rate cut at the Federal Open Market Committee meeting on December 10th.
hong kong Hang Seng Index The mainland’s CSI 300 index rose 0.28% but opened 0.13% lower.
China’s factory activity unexpectedly contracted in November as weak domestic demand continued to cast a shadow over the world’s second-largest economy, according to a private survey released on Monday.
S&P Global’s Rating Dog China Integrated Manufacturing PMI fell to 49.9 in November, below the 50.5 expected by analysts polled by Reuters. An indicator level above 50 suggests economic expansion, while below it suggests contraction.
The index follows official data released on Sunday, which showed China’s factory activity improved slightly in November to 49.2, but continued to contract for the eighth consecutive month. Services weakened as gains from before the holidays faded.
Hong Kong-listed companies with exposure to digital assets plunged after the People’s Bank of China warned of a resurgence of illegal activities and speculation related to digital currencies, according to a statement released by the central bank on Saturday.
stock Yunfeng Financial supported by Jack Ma and bright smart The Securities and Commodities group fell more than 7%. Kuniyasu Kuninami It fell by 3%.
Japanese benchmark Nikkei Stock Average The index fell by 1.3%, and the TOPIX index fell by 0.72%. Electronics manufacturers were among the declining stocks in the Nikkei 225 index. Fujikura8.11% decrease, sumitomo pharmaceuticaldown 5.82%; Advantestdown 4.74%.
South Korea’s Kospi index fell 0.66%, while the small-cap Kosdaq rose 1.29%.
Australia’s ASX/S&P200 index fell 0.23%.
US stock futures were little changed in early Asian time after a strong week.
In the U.S., Wall Street returned from the Thanksgiving holiday on Friday with shorter trading hours. of Nasdaq Composite The stock rose 0.65% to close at 23,365.69, marking its fifth consecutive day of gains.
Meanwhile, the S&P 500 rose 0.54% to settle at 6,849.09. The Dow Jones Industrial Average rose 289.30 points, or 0.61%, to end at 47,716.42.
—CNBC’s Anniek Bao, Sean Conlon and Sarah Min contributed to this report.
