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Asian stocks traded red in early 2019

2019-01-02 07:21 am | Resource: News | No Views : 244

Markets in East Asia and Australia fell on Wednesday, their first trading day in 2019. On the data level, Caixin and IHSMarket published a report showing manufacturing activity in China fell to 49.7, under the 50 mark that separates the expansion of the manufacturing sector from contraction .

China's Manufacturing PMI fell to 49.7 in December

China's manufacturing activity fell in December, with the seasonally adjusted PMI at 49.7, which means the sector is shrinking now, according to the Caixin and EHSMarket report released on Wednesday. Industrial production rose slightly, while new orders fell to their lowest level since June 2016.

"The manufacturing PMI of China Caixin fell to 49.7 in December, the first time since May 2017 that the reading was less than 50, the mark separating the expansion from the contraction," said ZEN Xingzhong, director of macroeconomic analysis at CEBM Group, adding "It seems increasingly likely that the Chinese economy may be subjected to more downward pressure."

Xhi Taiwan part of China, reunification "must"

Chinese President Xi Jinping said China strongly opposes "those conspiring" behind Taiwan's independent idea, adding that Beijing "has the option of taking all necessary measures" against foreign forces that interfere with peaceful reunification between the island and the mainland.

No one, no party can change the historical and legal that Taiwan is part of China and that the two sides of the Straits belong to China, "Shi said in a statement. Speech on the occasion of the 40th anniversary of a letter to "Taiwan compatriots" calling for peaceful reunification.

The Chinese prime minister concluded that this unification "is a historic conclusion reached over 70 years of development of cross-strait relations and the need to revitalize the Chinese nation in the new era."

Asian Indices Trading
  • The Shanghai Composite Index was 1.07% in the red zone at 4:05 CET.
  • While Shenzhen Composite lost 0.88% at 4:06 CET.
  • Hong Kong's Hang Seng Index fell 2.69% at 4:08 am CET.
  • South Korea's Kospi Composite Index fell 0.79% at 3:47 CET.
  • The S & P / ASX 200 fell 1.03% in Australia at 4:08 am CET.
  • Japan's Nikkei closed on a public holiday.

The greenback was down 0.22% against the yen, which traded at 109.4045 at 4:04 am CET.

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