Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

ASIA MARKETS : Data Showing Chinese Manufacturing Cooling Put Asia Stock Markets In Early Hole For 2019

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/01/2019 | 11:46pm EDT

By Associated Press

Japanese markets closed

BEIJING (AP) -- Asian stock markets tumbled Wednesday as 2019 trading began, after surveys showed Chinese manufacturing weakening.

Keeping score: The Shanghai Compositelost 1.1% to 2,465.29 and Hong Kong's Hang Sengfell 2.6% to 25,161.03. Japan's markets were closed. Seoul's Kospilost 1.3% to 2,013.80 and Sydney's S&P-ASX 200 shed 0.9% to 5,593.80. Manila advanced, while Singapore and Jakarta retreated. New Zealand was closed.

Chinese factories: Surveys by China's government and a major business magazine showed activity weakened in December as global and domestic demand cooled. Forecasters said that could send shock waves through Asian economies that supply Chinese factories with raw materials and components. Chinese export growth has held up as producers rushed to fill orders before possible new U.S. tariff hikes in Washington's trade battle with Beijing, but forecasters said that effect may be fading.

Analyst comment: The Chinese manufacturing downturn "raises a few red flags," said Vishnu Varathan of Mizuho Bank in a report. The slide is "not entirely surprising given more challenging global trade conditions," but it is "potentially symptomatic of far sharper underlying demand pullback," said Varathan. China's trade and investment ties with its neighbors mean the slowdown "will reverberate more widely to other Asian exporters."

Currencies: The dollar edged down to 109.36 yenfrom Monday's 109.67. The eurodeclined to $1.1446 from $1.1466.

Energy: Benchmark U.S. crudelost 41 cents to $45 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 8 cents on Monday to close at $45.41. Brent crude, used to price international oils, slumped 53 cents to $53.27 per barrel in London. It added 59 cents the previous session to close at $53.80.

Stocks mentioned in the article
ChangeLast1st jan.
NIKKEI 225 0.13% 21285.99 Real-time Quote.6.21%
S&P/ASX 200 0.22% 6665.4 Real-time Quote.17.79%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
12:05pLONDON STOCK EXCHANGE : Britain's FTSE 100 steady, Sino-U.S. trade talks back in focus
RE
11:39aWALL STREET STOCK EXCHANGE : U.S. Stocks Drift Higher, Extending Gains
DJ
11:27aWorld stocks mostly flat ahead of G20; dollar slips
RE
11:21aGlobal stocks mostly flat ahead of G20; dollar slips
RE
11:21aMARKET SNAPSHOT: Dow Climbs, Powered By Goldman, Boeing But Broader Market Struggles For Traction Higher
DJ
11:20aGlobal Stocks mostly flat ahead of G20; dollar slips
RE
10:41aTSX flat as mining sector offsets losses in cannabis shares
RE
10:30aTRACKINSIGHT : Surge of inflows into Japanese Large Cap Stocks
TI
10:15aTRACKINSIGHT : Impressive outflows for US Consumer Staples Stocks
TI
09:49aASIA MARKETS: Asian Stock Markets Tick Higher As China Confirms Xi Headed To G-20
DJ
Latest news "Markets"
Advertisement