Stock market today: Asian markets are mixed on the first trading day of 2024
ABC News
Asian markets were mostly lower Tuesday following the release of data showing more signs of weakness in the Chinese manufacturing and property sectors
Asian markets were mostly lower Tuesday following the release of data showing more signs of weakness in the Chinese manufacturing and property sectors.
U.S. futures were higher and oil prices gained more than $1 a barrel. Japan's markets were closed for a holiday.
The Hang Seng index in Hong Kong sank 1.5% to 16,788.55 and the Shanghai Composite index dropped 0.4% to 2,962.28.
Investors were selling property developers like debt-laden China Evergrande, which fell 6%, and LongFor Group Holding, which lost 6.9%. Sino-Ocean Holding declined 4.6%.
The December survey of the official purchasing managers index, or PMI, in China fell to 49 for the third consecutive month, signaling weak demand and underscoring the challenging economic conditions in the world’s second-largest economy.
