Asia-Pacific Markets
Asia-Pacific markets kick-started a data-heavy week mostly higher, with investors awaiting economic readings from several countries, including Japan, South Korea and China.
Over the weekend, China released its official purchasing managers’ index reading for November. Manufacturing PMI came in at 50.3 — its highest level since April — beating the 50.2 expected by economists polled by Reuters. Manufacturing PMI came in at 50.1 in October.
China’s non-manufacturing PMI slipped to 50.0 from 50.2 in the previous month, while composite PMI held steady at 50.8.
A reading higher than 50 shows expansion in activity, while below that shows contraction.
On Monday, manufacturing PMI readings from S&P Global will be released for economies throughout Asia, including the Caixin PMI survey for China.
Australia will announce retail sales for the fourth quarter, while Indonesia will disclose its inflation numbers for November later in the day.
South Korea’s Kospi
rose 0.51%, and the small-cap Kosdaq advanced 0.36%. Over the weekend, South Korea’s preliminary trade data revealed exports grew at their slowest pace since September 2023.(Cay)
source: CNBC
